11. Report of Business Segments OGE Energy reports its operations primarily through a single segment, captioned "electric company," which is engaged in the generation, transmission, distribution and sale of electric energy. The "other operations" caption 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 Registrants' chief operating decision maker uses net income as a measure of reportable segment profit or loss to make operating decisions, allocate resources, and assess performance. The following tables, which include significant segment expenses, present the results of OGE Energy's business segments for the three and six months ended June 30, 2026 and 2025.
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Three Months Ended June 30, 2026 |
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Electric Company |
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Other
Operations |
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Eliminations |
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Total |
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(In millions) |
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Operating revenues |
|
$ |
711.9 |
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$ |
— |
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|
$ |
— |
|
|
$ |
711.9 |
|
Fuel, purchased power and direct transmission expense |
|
|
217.7 |
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|
|
— |
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|
|
— |
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|
|
217.7 |
|
Other operation and maintenance |
|
|
138.6 |
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|
0.1 |
|
|
|
— |
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|
|
138.7 |
|
Depreciation and amortization |
|
|
138.1 |
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|
|
— |
|
|
|
— |
|
|
|
138.1 |
|
Taxes other than income |
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|
25.8 |
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— |
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— |
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|
25.8 |
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Operating income (loss) |
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|
191.7 |
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(0.1 |
) |
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— |
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|
|
191.6 |
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Net other income |
|
|
10.6 |
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|
5.8 |
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(3.5 |
) |
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12.9 |
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Interest expense |
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58.4 |
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11.8 |
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(3.5 |
) |
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|
66.7 |
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Income tax expense (benefit) |
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|
23.8 |
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|
|
(2.3 |
) |
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|
— |
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|
21.5 |
|
Net income (loss) |
|
$ |
120.1 |
|
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$ |
(3.8 |
) |
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$ |
— |
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|
$ |
116.3 |
|
Total assets |
|
$ |
15,026.3 |
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$ |
125.3 |
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|
$ |
(525.0 |
) |
|
$ |
14,626.6 |
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Capital expenditures |
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$ |
221.8 |
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$ |
— |
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$ |
— |
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$ |
221.8 |
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Three Months Ended June 30, 2025 |
|
Electric Company |
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|
Other
Operations |
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|
Eliminations |
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Total |
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(In millions) |
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Operating revenues |
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$ |
741.6 |
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$ |
— |
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|
$ |
— |
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|
$ |
741.6 |
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Fuel, purchased power and direct transmission expense |
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|
261.1 |
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— |
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— |
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|
261.1 |
|
Other operation and maintenance |
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|
126.3 |
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0.8 |
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— |
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|
127.1 |
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Depreciation and amortization |
|
|
140.6 |
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|
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— |
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— |
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|
140.6 |
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Taxes other than income |
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|
26.2 |
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— |
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— |
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|
26.2 |
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Operating income (loss) |
|
|
187.4 |
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(0.8 |
) |
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|
— |
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|
186.6 |
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Net other income |
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|
7.0 |
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|
9.0 |
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(0.9 |
) |
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|
15.1 |
|
Interest expense |
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|
63.4 |
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|
9.7 |
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(0.9 |
) |
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|
72.2 |
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Income tax expense (benefit) |
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|
23.3 |
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(1.3 |
) |
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— |
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|
22.0 |
|
Net income (loss) |
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$ |
107.7 |
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$ |
(0.2 |
) |
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$ |
— |
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$ |
107.5 |
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Total assets |
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$ |
13,990.8 |
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$ |
140.4 |
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$ |
(42.1 |
) |
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$ |
14,089.1 |
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Capital expenditures |
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$ |
273.7 |
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$ |
— |
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$ |
— |
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$ |
273.7 |
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Six Months Ended June 30, 2026 |
|
Electric Company |
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Other
Operations |
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Eliminations |
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Total |
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(In millions) |
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Operating revenues |
|
$ |
1,464.5 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
1,464.5 |
|
Fuel, purchased power and direct transmission expense |
|
|
554.4 |
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|
|
— |
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|
— |
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|
554.4 |
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Other operation and maintenance |
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|
275.4 |
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(0.2 |
) |
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— |
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|
275.2 |
|
Depreciation and amortization |
|
|
274.5 |
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— |
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— |
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|
274.5 |
|
Taxes other than income |
|
|
55.7 |
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— |
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— |
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|
55.7 |
|
Operating income |
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|
304.5 |
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0.2 |
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— |
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|
304.7 |
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Net other income |
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17.5 |
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5.5 |
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(3.9 |
) |
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|
19.1 |
|
Interest expense |
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|
108.4 |
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|
22.1 |
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(3.9 |
) |
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|
126.6 |
|
Income tax expense (benefit) |
|
|
35.6 |
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(4.9 |
) |
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|
— |
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|
30.7 |
|
Net income (loss) |
|
$ |
178.0 |
|
|
$ |
(11.5 |
) |
|
$ |
— |
|
|
$ |
166.5 |
|
Total assets |
|
$ |
15,026.3 |
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|
$ |
125.3 |
|
|
$ |
(525.0 |
) |
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$ |
14,626.6 |
|
Capital expenditures |
|
$ |
488.6 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
488.6 |
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Six Months Ended June 30, 2025 |
|
Electric Company |
|
|
Other
Operations |
|
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Eliminations |
|
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Total |
|
(In millions) |
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|
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Operating revenues |
|
$ |
1,489.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,489.3 |
|
Fuel, purchased power and direct transmission expense |
|
|
585.1 |
|
|
|
— |
|
|
|
— |
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|
|
585.1 |
|
Other operation and maintenance |
|
|
248.1 |
|
|
|
0.8 |
|
|
|
— |
|
|
|
248.9 |
|
Depreciation and amortization |
|
|
278.0 |
|
|
|
— |
|
|
|
— |
|
|
|
278.0 |
|
Taxes other than income |
|
|
57.4 |
|
|
|
— |
|
|
|
— |
|
|
|
57.4 |
|
Operating income (loss) |
|
|
320.7 |
|
|
|
(0.8 |
) |
|
|
— |
|
|
|
319.9 |
|
Net other income |
|
|
15.9 |
|
|
|
10.2 |
|
|
|
(4.1 |
) |
|
|
22.0 |
|
Interest expense |
|
|
120.2 |
|
|
|
23.4 |
|
|
|
(4.1 |
) |
|
|
139.5 |
|
Income tax expense (benefit) |
|
|
37.7 |
|
|
|
(5.5 |
) |
|
|
— |
|
|
|
32.2 |
|
Net income (loss) |
|
$ |
178.7 |
|
|
$ |
(8.5 |
) |
|
$ |
— |
|
|
$ |
170.2 |
|
Total assets |
|
$ |
13,990.8 |
|
|
$ |
140.4 |
|
|
$ |
(42.1 |
) |
|
$ |
14,089.1 |
|
Capital expenditures |
|
$ |
523.2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
523.2 |
|
|