Report of Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

The following tables present the results of OGE Energy's business segments for the three and nine months ended September 30, 2021 and 2020.



Three Months Ended September 30, 2021	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	864.4	$	—	$	—	$	—	$	864.4
Fuel, purchased power and direct transmission expense	330.1		—		—		—		330.1
Other operation and maintenance	115.8		0.3		(0.7)		—		115.4
Depreciation and amortization	108.6		—		—		—		108.6


Taxes other than income	24.6		0.1		0.8		—		25.5
Operating income (loss)	285.3		(0.4)		(0.1)		—		284.8
Equity in earnings of unconsolidated affiliates	—		41.2		—		—		41.2
Other income (expense)	2.9		(0.5)		(0.2)		(0.1)		2.1
Interest expense	38.0		—		1.6		(0.1)		39.5
Income tax expense	26.4		9.5		0.2		—		36.1
Net income (loss)	$	223.8	$	30.8	$	(2.1)	$	—	$	252.5
Investment in unconsolidated affiliates	$	—	$	449.5	$	29.4	$	—	$	478.9
Total assets	$	11,597.9	$	451.8	$	293.3	$	(165.5)	$	12,177.5



Three Months Ended September 30, 2020	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	702.1	$	—	$	—	$	—	$	702.1
Fuel, purchased power and direct transmission expense	209.1		—		—		—		209.1
Other operation and maintenance	110.1		0.3		(0.7)		—		109.7
Depreciation and amortization	100.5		—		—		—		100.5
Taxes other than income	23.9		0.2		0.7		—		24.8
Operating income (loss)	258.5		(0.5)		—		—		258.0
Equity in earnings of unconsolidated affiliates	—		15.8		—		—		15.8
Other income (expense)	0.6		(0.7)		(0.5)		(0.2)		(0.8)
Interest expense	39.5		—		0.5		(0.2)		39.8
Income tax expense	20.1		4.5		31.2		—		55.8
Net income (loss)	$	199.5	$	10.1	$	(32.2)	$	—	$	177.4
Investment in unconsolidated affiliates	$	—	$	355.8	$	21.0	$	—	$	376.8
Total assets	$	10,323.3	$	358.7	$	109.6	$	(294.0)	$	10,497.6



Nine Months Ended September 30, 2021	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	3,072.4	$	—	$	—	$	—	$	3,072.4
Fuel, purchased power and direct transmission expense	1,876.9		—		—		—		1,876.9
Other operation and maintenance	344.4		2.3		(2.8)		—		343.9
Depreciation and amortization	310.2		—		—		—		310.2


Taxes other than income	75.3		0.3		2.9		—		78.5
Operating income (loss)	465.6		(2.6)		(0.1)		—		462.9
Equity in earnings of unconsolidated affiliates	—		127.9		—		—		127.9
Other income (expense)	5.8		(1.2)		(0.8)		(0.9)		2.9
Interest expense	114.3		—		5.4		(0.9)		118.8
Income tax expense (benefit)	37.0		23.2		(3.4)		—		56.8
Net income (loss)	$	320.1	$	100.9	$	(2.9)	$	—	$	418.1
Investment in unconsolidated affiliates	$	—	$	449.5	$	29.4	$	—	$	478.9
Total assets	$	11,597.9	$	451.8	$	293.3	$	(165.5)	$	12,177.5



Nine Months Ended September 30, 2020	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	1,636.9	$	—	$	—	$	—	$	1,636.9
Fuel, purchased power and direct transmission expense	481.5		—		—		—		481.5
Other operation and maintenance	348.8		1.2		(2.8)		—		347.2
Depreciation and amortization	292.2		—		—		—		292.2


Taxes other than income	72.8		0.4		3.1		—		76.3
Operating income (loss)	441.6		(1.6)		(0.3)		—		439.7
Equity in losses of unconsolidated affiliates (A)	—		(703.8)		—		—		(703.8)
Other income (expense)	2.9		(0.7)		2.5		(1.4)		3.3
Interest expense	115.7		—		4.6		(1.4)		118.9
Income tax expense (benefit)	30.5		(167.2)		(14.5)		—		(151.2)
Net income (loss)	$	298.3	$	(538.9)	$	12.1	$	—	$	(228.5)
Investment in unconsolidated affiliates	$	—	$	355.8	$	21.0	$	—	$	376.8
Total assets	$	10,323.3	$	358.7	$	109.6	$	(294.0)	$	10,497.6

(A) In 2020, OGE Energy recorded a $780.0 million impairment on its investment in Enable, as further discussed in Note 4