Report of Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

The following tables present the results of OGE Energy's business segments for the years ended December 31, 2020, 2019 and 2018.


2020	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,122.3	$	—	$	—	$	—	$	2,122.3
Cost of sales	644.6		—		—		—		644.6
Other operation and maintenance	464.4		1.7		(3.3)		—		462.8
Depreciation and amortization	391.3		—		—		—		391.3
Taxes other than income	97.2		0.4		3.8		—		101.4
Operating income (loss)	524.8		(2.1)		(0.5)		—		522.2
Equity in losses of unconsolidated affiliates (A)	—		(668.0)		—		—		(668.0)
Other income (expense)	4.1		(2.9)		3.6		(1.6)		3.2
Interest expense	154.8		—		5.3		(1.6)		158.5
Income tax expense (benefit)	34.7		(158.0)		(4.1)		—		(127.4)
Net income (loss)	$	339.4	$	(515.0)	$	1.9	$	—	$	(173.7)
Investment in unconsolidated affiliates	$	—	$	374.3	$	23.1	$	—	$	397.4
Total assets	$	10,489.0	$	378.1	$	116.4	$	(264.7)	$	10,718.8
Capital expenditures	$	650.5	$	—	$	—	$	—	$	650.5

(A) In March 2020, OGE Energy recorded a $780.0 million impairment on its investment in Enable, as further discussed in Notes 5 and 7.


2019	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,231.6	$	—	$	—	$	—	$	2,231.6
Cost of sales	786.9		—		—		—		786.9
Other operation and maintenance	492.5		2.8		(3.5)		—		491.8
Depreciation and amortization	355.0		—		—		—		355.0
Taxes other than income	89.5		0.4		3.7		—		93.6
Operating income (loss)	507.7		(3.2)		(0.2)		—		504.3
Equity in earnings of unconsolidated affiliates	—		113.9		—		—		113.9
Other income (expense)	3.1		(8.6)		2.2		(3.6)		(6.9)
Interest expense	140.5		—		11.0		(3.6)		147.9
Income tax expense (benefit)	20.1		20.7		(11.0)		—		29.8
Net income	$	350.2	$	81.4	$	2.0	$	—	$	433.6


Investment in unconsolidated affiliates	$	—	$	1,132.9	$	18.6	$	—	$	1,151.5
Total assets	$	10,076.6	$	1,135.4	$	107.0	$	(294.7)	$	11,024.3
Capital expenditures	$	635.5	$	—	$	—	$	—	$	635.5


2018	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,270.3	$	—	$	—	$	—	$	2,270.3
Cost of sales	892.5		—		—		—		892.5
Other operation and maintenance	473.8		1.4		(0.6)		—		474.6
Depreciation and amortization	321.6		—		—		—		321.6
Taxes other than income	88.2		0.6		3.2		—		92.0
Operating income (loss)	494.2		(2.0)		(2.6)		—		489.6
Equity in earnings of unconsolidated affiliates	—		152.8		—		—		152.8
Other income (expense)	25.6		(4.9)		(3.4)		(6.0)		11.3
Interest expense	151.8		—		10.2		(6.0)		156.0
Income tax expense (benefit)	40.0		37.1		(4.9)		—		72.2
Net income (loss)	$	328.0	$	108.8	$	(11.3)	$	—	$	425.5


Investment in unconsolidated affiliates	$	—	$	1,166.6	$	10.9	$	—	$	1,177.5
Total assets	$	9,704.5	$	1,169.8	$	184.8	$	(310.5)	$	10,748.6
Capital expenditures	$	573.6	$	—	$	—	$	—	$	573.6