Report of Business Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Report of Business Segments

Report of Business SegmentsOGE Energy reports its operations in two business segments: (i) the electric utility segment, which is engaged in the generation, transmission, distribution and sale of electric energy and (ii) natural gas midstream operations segment. Prior to the Enable and Energy Transfer merger closing on December 2, 2021, OGE Energy's natural gas midstream operations segment included its equity method investment in Enable. Subsequent to December 2, 2021, OGE Energy's natural gas midstream operations segment includes its investment in Energy Transfer's equity securities and legacy Enable seconded employee pension and postretirement costs. Other operations 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 nine months ended September 30, 2022 and 2021.

Three Months Ended September 30, 2022	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	1,270.8	$	—	$	—	$	—	$	1,270.8
Fuel, purchased power and direct transmission expense	673.8		—		—		—		673.8
Other operation and maintenance	121.5		10.5		(0.6)		—		131.4
Depreciation and amortization	122.4		—		—		—		122.4
Taxes other than income	24.5		0.1		0.7		—		25.3
Operating income (loss)	328.6		(10.6)		(0.1)		—		317.9
Gain on equity securities	—		39.4		—		—		39.4
Other income (expense)	5.6		(7.8)		2.6		(1.1)		(0.7)
Interest expense	40.2		—		3.1		(1.1)		42.2
Income tax expense	40.9		4.9		5.8		—		51.6
Net income (loss)	$	253.1	$	16.1	$	(6.4)	$	—	$	262.8
Total assets	$	12,233.8	$	1.3	$	933.9	$	(565.0)	$	12,604.0

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	$	—	$	—	$	449.5
Total assets	$	11,597.9	$	451.8	$	293.3	$	(165.5)	$	12,177.5

Nine Months Ended September 30, 2022	Electric Utility		Natural Gas Midstream Operations		Other Operations		Eliminations		Total
(In millions)
Operating revenues	$	2,663.8	$	—	$	—	$	—	$	2,663.8
Fuel, purchased power and direct transmission expense	1,322.8		—		—		—		1,322.8
Other operation and maintenance	355.3		11.7		(2.5)		—		364.5
Depreciation and amortization	341.4		—		—		—		341.4
Taxes other than income	74.6		0.2		2.7		—		77.5
Operating income (loss)	569.7		(11.9)		(0.2)		—		557.6
Gain on equity securities	—		282.1		—		—		282.1
Other income	6.0		13.3		2.6		(1.6)		20.3
Interest expense	118.2		—		8.1		(1.6)		124.7
Income tax expense (benefit)	64.7		56.2		(1.0)		—		119.9
Net income (loss)	$	392.8	$	227.3	$	(4.7)	$	—	$	615.4
Total assets	$	12,233.8	$	1.3	$	933.9	$	(565.0)	$	12,604.0

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	$	—	$	—	$	449.5
Total assets	$	11,597.9	$	451.8	$	293.3	$	(165.5)	$	12,177.5