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Retirement Plans and Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Plans and Postretirement Benefit Plans [Abstract]

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

These amounts have been recorded in Accrued Benefit Obligations with the offset in Accumulated Other Comprehensive Loss (except OG&E's portion, which is recorded as a regulatory asset as discussed in Note 1) in the balance sheets. The amounts in Accumulated Other Comprehensive Loss and those recorded as a regulatory asset represent a net periodic benefit cost to be recognized in the statements of income in future periods. The benefit obligation for OGE Energy's Pension Plan and the Restoration of Retirement Income Plan represents the projected benefit obligation, while the benefit obligation for the postretirement benefit plans represents the accumulated postretirement benefit obligation. The accumulated postretirement benefit obligation for OGE Energy's Pension Plan and Restoration of Retirement Income Plan differs from the projected benefit obligation in that the former includes no assumption about future compensation levels.


	OGE Energy								OG&E
	Pension Plan				Restoration of Retirement Income Plan				Pension Plan				Restoration of Retirement Income Plan
December 31 (In millions)	2020		2019		2020		2019		2020		2019		2020		2019
Change in benefit obligation
Beginning obligations	$	616.1	$	615.9	$	10.3	$	9.6	$	462.0	$	453.6	$	6.1	$	6.0
Service cost	13.2		12.9		0.8		0.5		9.2		9.0		0.1		0.2
Interest cost	17.0		20.7		0.2		0.4		12.6		15.6		0.1		0.2
Plan settlements	(42.8)		(83.1)		(5.3)		(1.2)		(33.5)		(45.6)		(4.5)		(0.9)
Plan amendments	—		—		—		0.3		—		—		—		—
Plan curtailments	—		—		0.2		—		—		—		—		—
Special termination benefits	7.6		—		—		—		5.1		—		—		—

Actuarial losses	57.7		64.3		1.6		0.7		41.0		42.1		1.2		0.6
Benefits paid	(14.2)		(14.6)		—		—		(12.3)		(12.7)		—		—
Ending obligations	$	654.6	$	616.1	$	7.8	$	10.3	$	484.1	$	462.0	$	3.0	$	6.1

Change in plans' assets
Beginning fair value	$	530.3	$	522.8	$	—	$	—	$	399.1	$	387.6	$	—	$	—
Actual return on plans' assets	77.0		85.2		—		—		57.0		64.8		—		—
Employer contributions	20.0		20.0		5.3		1.2		10.0		5.0		4.5		0.9
Plan settlements	(42.8)		(83.1)		(5.3)		(1.2)		(33.5)		(45.6)		(4.5)		(0.9)

Benefits paid	(14.2)		(14.6)		—		—		(12.3)		(12.7)		—		—
Ending fair value	$	570.3	$	530.3	$	—	$	—	$	420.3	$	399.1	$	—	$	—
Funded status at end of year	$	(84.3)	$	(85.8)	$	(7.8)	$	(10.3)	$	(63.8)	$	(62.9)	$	(3.0)	$	(6.1)
Accumulated postretirement benefit obligation	$	610.8	$	563.3	$	6.9	$	8.1	$	454.7	$	425.8	$	2.9	$	4.8

For the year ended December 31, 2020, Pension Plan actuarial losses were primarily due to movement in the discount rate, special termination benefits due to a voluntary retirement program offered by OGE Energy and more retirements and terminations than expected which are expected to accelerate lump sum payments in 2021. These losses were partially offset by gains from lowering the interest crediting rate and plan mortality assumptions.


	OGE Energy				OG&E
	Postretirement Benefit Plans				Postretirement Benefit Plans
December 31 (In millions)	2020		2019		2020		2019
Change in benefit obligation
Beginning obligations	$	136.5	$	135.8	$	104.7	$	104.8
Service cost	0.2		0.2		0.2		0.2
Interest cost	4.2		5.6		3.2		4.3

Plan curtailments	4.0		—		3.1		—
Participants' contributions	3.3		4.1		2.4		3.0
Actuarial losses	7.3		2.9		4.5		2.2
Benefits paid	(11.0)		(12.1)		(8.6)		(9.8)
Ending obligations	$	144.5	$	136.5	$	109.5	$	104.7

Change in plans' assets
Beginning fair value	$	47.0	$	45.3	$	41.9	$	40.6
Actual return on plans' assets	1.2		4.6		1.1		4.0
Employer contributions	7.1		5.1		5.9		4.1

Participants' contributions	3.3		4.1		2.4		3.0
Benefits paid	(11.0)		(12.1)		(8.6)		(9.8)
Ending fair value	$	47.6	$	47.0	$	42.7	$	41.9
Funded status at end of year	$	(96.9)	$	(89.5)	$	(66.8)	$	(62.8)

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables present the net periodic benefit cost components, before consideration of capitalized amounts, of OGE Energy's Pension Plan, Restoration of Retirement Income Plan and postretirement benefit plans that are included in the financial statements. Service cost is presented within Other Operation and Maintenance, and the remaining net period benefit cost components as listed in the following tables are presented within Other Net Periodic Benefit Income (Expense) in the statements of income. OG&E recovers specific amounts of pension and postretirement medical costs in rates approved in its Oklahoma rate reviews. In accordance with approved orders, OG&E defers the difference between actual pension and postretirement medical expenses and the amount approved in its last Oklahoma rate review as a regulatory asset or regulatory liability. These amounts have been recorded in the Pension tracker in the regulatory assets and liabilities table in Note 1 and within Other Net Periodic Benefit Income (Expense) in the statements of income.


	OGE Energy												OG&E
	Pension Plan						Restoration of Retirement Income Plan						Pension Plan						Restoration of Retirement Income Plan
Year Ended December 31 (In millions)	2020		2019		2018		2020		2019		2018		2020		2019		2018		2020		2019		2018
Service cost	$	13.2	$	12.9	$	14.9	$	0.8	$	0.5	$	0.4	$	9.2	$	9.0	$	9.8	$	0.1	$	0.2	$	0.2
Interest cost	17.0		20.7		23.8		0.2		0.4		0.3		12.6		15.6		17.6		0.1		0.2		0.2
Expected return on plan assets	(37.6)		(36.1)		(44.1)		—		—		—		(27.9)		(27.6)		(33.1)		—		—		—

Amortization of net loss	17.1		17.3		16.2		0.5		0.5		0.7		12.1		12.9		12.1		0.4		0.3		0.5
Plan curtailments	—		—		—		0.2		—		—		—		—		—		—		—		—
Special termination benefits	7.6		—		—		—		—		—		5.1		—		—		—		—		—
Amortization of unrecognized prior service cost (A)	—		—		—		—		—		0.1		—		—		—		—		—		—
Settlement cost	14.1		27.6		25.1		2.7		0.5		1.0		11.4		16.4		19.4		2.4		0.5		0.4
Total net periodic benefit cost	31.4		42.4		35.9		4.4		1.9		2.5		22.5		26.3		25.8		3.0		1.2		1.3
Less: Amount paid by unconsolidated affiliates (B)	2.0		2.9		2.5		0.1		0.1		0.1
Plus: Amount allocated from OGE Energy (B)													5.9		4.5		5.7		1.3		0.5		1.2
Net periodic benefit cost	$	29.4	$	39.5	$	33.4	$	4.3	$	1.8	$	2.4	$	28.4	$	30.8	$	31.5	$	4.3	$	1.7	$	2.5

(A)Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment.

(B)"Amount paid by unconsolidated affiliates" is only applicable to OGE Energy. "Amount allocated from OGE Energy" is only applicable to OG&E.

In addition to the net periodic benefit cost amounts recognized, as presented in the table above, for the Pension and Restoration of Retirement Income Plans in 2020, 2019 and 2018, the Registrants recognized the following:



Year Ended December 31 (In millions)	2020		2019		2018
Decrease of pension expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)	$	(13.8)	$	(16.1)	$	(14.1)
Deferral of pension expense related to pension settlement, curtailment and special termination benefits charges:
Oklahoma jurisdiction (A)	$	21.6	$	17.9	$	22.1
Arkansas jurisdiction (A)	$	2.0	$	1.7	$	2.1

(A) Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1.


	OGE Energy						OG&E
	Postretirement Benefit Plans						Postretirement Benefit Plans
Year Ended December 31 (In millions)	2020		2019		2018		2020		2019		2018
Service cost	$	0.2	$	0.2	$	0.3	$	0.2	$	0.2	$	0.2
Interest cost	4.2		5.6		5.4		3.2		4.3		4.2
Expected return on plan assets	(1.8)		(1.9)		(2.0)		(1.7)		(1.7)		(1.8)
Amortization of net loss	2.0		2.0		3.8		2.1		2.1		3.8
Plan curtailments	1.5		—		—		1.3		—		—
Amortization of unrecognized prior service cost (A)	(8.4)		(8.4)		(8.4)		(6.1)		(6.1)		(6.1)
Total net periodic benefit cost	(2.3)		(2.5)		(0.9)		(1.0)		(1.2)		0.3
Less: Amount paid by unconsolidated affiliates (B)	(0.7)		(0.6)		(0.5)
Plus: Amount allocated from OGE Energy (B)							(0.5)		(0.6)		(0.7)
Net periodic benefit cost	$	(1.6)	$	(1.9)	$	(0.4)	$	(1.5)	$	(1.8)	$	(0.4)

(A) Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment.

(B) "Amount paid by unconsolidated affiliates" is only applicable to OGE Energy. "Amount allocated from OGE Energy" is only applicable to OG&E.

In addition to the net periodic benefit income amounts recognized, as presented in the table above, for the postretirement benefit plans in 2020, 2019 and 2018, the Registrants recognized the following:


Year Ended December 31 (In millions)	2020		2019		2018
Increase of postretirement expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A)	$	0.2	$	1.0	$	4.4
Deferral of postretirement expense related to postretirement plan curtailment charges:
Oklahoma jurisdiction (A)	$	1.4	$	—	$	—
Arkansas jurisdiction (A)	$	0.1	$	—	$	—

(A) Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1.

Schedule of Capitalized Pension and Postretirement Cost [Table Text Block]


	OGE Energy						OG&E
(In millions)	2020		2019		2018		2020		2019		2018
Capitalized portion of net periodic pension benefit cost	$	3.8	$	3.6	$	3.8	$	3.1	$	3.0	$	3.2
Capitalized portion of net periodic postretirement benefit cost	$	0.2	$	0.2	$	0.2	$	0.1	$	0.1	$	0.1

Schedule of Assumptions Used [Table Text Block]

Rate Assumptions


	Pension Plan and Restoration of Retirement Income Plan						Postretirement Benefit Plans
Year Ended December 31	2020		2019		2018		2020		2019		2018
Assumptions to determine benefit obligations:
Discount rate	2.30	%	3.15	%	4.20	%	2.45	%	3.25	%	4.30	%
Rate of compensation increase	4.20	%	4.20	%	4.20	%	N/A		N/A		N/A
Interest crediting rate	3.50	%	4.00	%	4.00	%	N/A		N/A		N/A




Assumptions to determine net periodic benefit cost:
Discount rate	2.88	%	3.63	%	3.73	%	3.25	%	4.30	%	3.70	%
Expected return on plan assets	7.50	%	7.50	%	7.50	%	4.00	%	4.00	%	4.00	%
Rate of compensation increase	4.20	%	4.20	%	4.20	%	N/A		N/A		N/A
Interest crediting rate	4.00	%	4.00	%	4.00	%	N/A		N/A		N/A

N/A - not applicable

Projected Benefit Obligation Funded Status Thresholds [Table Text Block]

The Pension Plan assets are held in a trust which follows an investment policy and strategy designed to reduce the funded status volatility of the Plan by utilizing liability driven investing. The purpose of liability-driven investing is to structure the asset portfolio to more closely resemble the pension liability and thereby more effectively hedge against changes in the liability. The investment policy follows a glide path approach that shifts a higher portfolio weighting to fixed income as the Plan's funded status increases. The following table presents the targeted fixed income and equity allocations at different funded status levels.


Projected Benefit Obligation Funded Status Thresholds	<90%	95%	100%	105%	110%	115%	120%
Fixed income	50%	58%	65%	73%	80%	85%	90%
Equity	50%	42%	35%	27%	20%	15%	10%
Total	100%	100%	100%	100%	100%	100%	100%

Pension Plan Equity Asset Allocation Table [Table Text Block]

Within the portfolio's overall allocation to equities, the funds are allocated according to the guidelines in the following table.


Asset Class	Target Allocation	Minimum	Maximum
Domestic Large Cap Equity	40%	35%	60%
Domestic Mid-Cap Equity	15%	5%	25%
Domestic Small-Cap Equity	25%	5%	30%
International Equity	20%	10%	30%

Schedule of Allocation of Plan Assets [Table Text Block]

The following tables present the postretirement benefit plans' investments that are measured at fair value on a recurring basis at December 31, 2020 and 2019. There were no Level 2 investments held by the postretirement benefit plans at December 31, 2020 and 2019.


(In millions)	December 31, 2020		Level 1		Level 3
Group retiree medical insurance contract	$	33.4	$	—	$	33.4

Mutual fund	10.8		10.8		—

Money market fund	3.4		3.4		—
Total OGE Energy plan investments	$	47.6	$	14.2	$	33.4
Plan investments attributable to affiliates	(4.9)
Total OG&E plan investments	$	42.7


(In millions)	December 31, 2019		Level 1		Level 3
Group retiree medical insurance contract	$	34.8	$	—	$	34.8

Mutual funds	10.9		10.9		—

Money market fund	1.2		1.2		—
Total OGE Energy plan investments	$	46.9	$	12.1	$	34.8
Plan investments attributable to affiliates	(5.0)
Total OG&E plan investments	$	41.9

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The following table presents a reconciliation of the postretirement benefit plans' investments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3).


Year Ended December 31 (In millions)	2020
Group retiree medical insurance contract:
Beginning balance	$	34.8
Claims paid	(3.7)
Investment fees	(0.1)
Interest income	0.8
Net unrealized gains related to instruments held at the reporting date	0.6
Dividend income	0.6
Realized gains	0.4
Ending balance	$	33.4

Schedule of Expected Benefit Payments [Table Text Block]

The following table presents the benefit payments the Registrants expect to pay related to the Pension Plan and Restoration of Retirement Income Plan. These expected benefits are based on the same assumptions used to measure OGE Energy's benefit obligation at the end of the year and include benefits attributable to estimated future employee service.


(In millions)	OGE Energy		OG&E
2021	$	164.2	$	123.9
2022	$	43.3	$	33.1
2023	$	42.5	$	31.9
2024	$	44.2	$	32.3
2025	$	41.1	$	29.3
After 2025	$	203.6	$	141.1

The Medicare Prescription Drug, Improvement and Modernization Act of 2003 expanded coverage for prescription drugs. The following table presents the gross benefit payments the Registrants expect to pay related to the postretirement benefit plans, including prescription drug benefits.


(In millions)	OGE Energy		OG&E
2021	$	11.9	$	9.4
2022	$	11.8	$	9.3
2023	$	11.4	$	8.9
2024	$	10.0	$	7.7
2025	$	9.5	$	7.3
After 2025	$	40.9	$	31.0

Defined Benefit Plan, Plan Assets, Category

The following tables present the Pension Plan's investments that are measured at fair value on a recurring basis at December 31, 2020 and 2019. There were no Level 3 investments held by the Pension Plan at December 31, 2020 and 2019.


(In millions)	December 31, 2020		Level 1		Level 2		Net Asset Value (A)
Common stocks	$	252.3	$	252.3	$	—	$	—
U.S. Treasury notes and bonds (B)	134.3		134.3		—		—
Mortgage- and asset-backed securities	29.3		—		29.3		—
Corporate fixed income and other securities	116.6		—		116.6		—
Commingled fund (C)	25.4		—		—		25.4
Foreign government bonds	4.6		—		4.6		—
U.S. municipal bonds	1.8		—		1.8		—

Money market fund	8.8		—		—		8.8
Mutual fund	9.2		9.2		—		—
Preferred stocks	0.6		0.6		—		—
U.S. Treasury futures:


Cash collateral	0.7		0.7		—		—
Forward contracts:
Receivable (foreign currency)	0.1		—		0.1		—

Total Pension Plan investments	583.7		$	397.1	$	152.4	$	34.2
Receivable from broker for securities sold	0.2
Interest and dividends receivable	2.2
Payable to broker for securities purchased	(15.8)
Total OGE Energy Pension Plan assets	$	570.3
Pension Plan investments attributable to affiliates	(150.0)
Total OG&E Pension Plan assets	$	420.3

(A)GAAP allows the measurement of certain investments that do not have a readily determinable fair value at the net asset value. These investments do not consider the observability of inputs; therefore, they are not included within the fair value hierarchy.

(B)This category represents U.S. Treasury notes and bonds with a Moody's Investors Service rating of Aaa and Government Agency Bonds with a Moody's Investors Service rating of A1 or higher.

(C)This category represents units of participation in a commingled fund that primarily invested in stocks of international companies and emerging markets.


(In millions)	December 31, 2019		Level 1		Level 2		Net Asset Value (A)

Common stocks	$	202.0	$	202.0	$	—	$	—


U.S. Treasury notes and bonds (B)	134.8		134.8		—		—
Mortgage- and asset-backed securities	45.8		—		45.8		—


Corporate fixed income and other securities	130.5		—		130.5		—

Commingled fund (C)	23.9		—		—		23.9
Foreign government bonds	3.0		—		3.0		—
U.S. municipal bonds	1.1		—		1.1		—

Money market fund	2.4		—		—		2.4

Mutual fund	7.5		7.5		—		—
Preferred stocks	0.7		0.7		—		—
Futures:
U.S. Treasury futures (receivable)	22.9		—		22.9		—
U.S. Treasury futures (payable)	(10.9)		—		(10.9)		—
Cash collateral	0.6		0.6		—		—
Forward contracts:
Receivable (foreign currency)	0.1		—		0.1		—

Total Pension Plan investments	564.4		$	345.6	$	192.5	$	26.3

Interest and dividends receivable	2.4
Payable to broker for securities purchased	(36.5)
Total OGE Energy Pension Plan assets	$	530.3
Pension Plan investments attributable to affiliates	(131.2)
Total OG&E Pension Plan assets	$	399.1

(B)This category represents U.S. Treasury notes and bonds with a Moody's Investors Service rating of Aaa and Government Agency Bonds with a Moody's Investors Service rating of A1 or higher.

(C)This category represents units of participation in a commingled fund that primarily invested in stocks of international companies and emerging markets.