OGE ENERGY CORP. Segments Disclosure
12. Report of Business Segments
OGE Energy reports its operations primarily through a 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. In accordance with ASC Topic 280, “Segment Reporting,” the Registrants have identified their as the “chief operating decision maker.” The Chief Executive Officer uses net income as the 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 years ended December 31, 2025, 2024 and 2023.
2025 |
|
Electric Company |
|
|
Other |
|
|
Eliminations |
|
|
Total |
|
||||
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating revenues |
|
$ |
3,260.1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,260.1 |
|
Fuel, purchased power and direct transmission expense |
|
|
1,259.9 |
|
|
|
— |
|
|
|
— |
|
|
|
1,259.9 |
|
Other operation and maintenance |
|
|
531.0 |
|
|
|
0.6 |
|
|
|
— |
|
|
|
531.6 |
|
Depreciation and amortization |
|
|
559.8 |
|
|
|
— |
|
|
|
— |
|
|
|
559.8 |
|
Taxes other than income |
|
|
109.4 |
|
|
|
— |
|
|
|
— |
|
|
|
109.4 |
|
Operating income (loss) |
|
|
800.0 |
|
|
|
(0.6 |
) |
|
|
— |
|
|
|
799.4 |
|
Other income |
|
|
30.4 |
|
|
|
7.4 |
|
|
|
(6.4 |
) |
|
|
31.4 |
|
Interest expense |
|
|
225.5 |
|
|
|
51.2 |
|
|
|
(6.4 |
) |
|
|
270.3 |
|
Income tax expense (benefit) |
|
|
105.1 |
|
|
|
(15.3 |
) |
|
|
— |
|
|
|
89.8 |
|
Net income (loss) |
|
$ |
499.8 |
|
|
$ |
(29.1 |
) |
|
$ |
— |
|
|
$ |
470.7 |
|
Total assets |
|
$ |
14,277.5 |
|
|
$ |
134.1 |
|
|
$ |
(41.1 |
) |
|
$ |
14,370.5 |
|
Capital expenditures |
|
$ |
1,054.4 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,054.4 |
|
2024 |
|
Electric Company |
|
|
Other |
|
|
Eliminations |
|
|
Total |
|
||||
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating revenues |
|
$ |
2,985.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,985.3 |
|
Fuel, purchased power and direct transmission expense |
|
|
1,076.4 |
|
|
|
— |
|
|
|
— |
|
|
|
1,076.4 |
|
Other operation and maintenance |
|
|
514.1 |
|
|
|
0.3 |
|
|
|
— |
|
|
|
514.4 |
|
Depreciation and amortization |
|
|
539.5 |
|
|
|
— |
|
|
|
— |
|
|
|
539.5 |
|
Taxes other than income |
|
|
109.7 |
|
|
|
— |
|
|
|
— |
|
|
|
109.7 |
|
Operating income (loss) |
|
|
745.6 |
|
|
|
(0.3 |
) |
|
|
— |
|
|
|
745.3 |
|
Other income |
|
|
31.9 |
|
|
|
2.4 |
|
|
|
(4.5 |
) |
|
|
29.8 |
|
Interest expense |
|
|
214.4 |
|
|
|
44.6 |
|
|
|
(4.5 |
) |
|
|
254.5 |
|
Income tax expense (benefit) |
|
|
93.2 |
|
|
|
(14.1 |
) |
|
|
— |
|
|
|
79.1 |
|
Net income (loss) |
|
$ |
469.9 |
|
|
$ |
(28.4 |
) |
|
$ |
— |
|
|
$ |
441.5 |
|
Total assets |
|
$ |
13,581.3 |
|
|
$ |
402.9 |
|
|
$ |
(268.2 |
) |
|
$ |
13,716.0 |
|
Capital expenditures |
|
$ |
1,090.9 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,090.9 |
|
2023 |
|
Electric Company |
|
|
Other |
|
|
Eliminations |
|
|
Total |
|
||||
(In millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating revenues |
|
$ |
2,674.3 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,674.3 |
|
Fuel, purchased power and direct transmission expense |
|
|
911.7 |
|
|
|
— |
|
|
|
— |
|
|
|
911.7 |
|
Other operation and maintenance |
|
|
505.0 |
|
|
|
(2.4 |
) |
|
|
— |
|
|
|
502.6 |
|
Depreciation and amortization |
|
|
506.6 |
|
|
|
— |
|
|
|
— |
|
|
|
506.6 |
|
Taxes other than income |
|
|
99.4 |
|
|
|
3.8 |
|
|
|
— |
|
|
|
103.2 |
|
Operating income (loss) |
|
|
651.6 |
|
|
|
(1.4 |
) |
|
|
— |
|
|
|
650.2 |
|
Other income |
|
|
43.5 |
|
|
|
8.1 |
|
|
|
(7.4 |
) |
|
|
44.2 |
|
Interest expense |
|
|
199.9 |
|
|
|
28.9 |
|
|
|
(7.4 |
) |
|
|
221.4 |
|
Income tax expense (benefit) |
|
|
68.8 |
|
|
|
(12.6 |
) |
|
|
— |
|
|
|
56.2 |
|
Net income (loss) |
|
$ |
426.4 |
|
|
$ |
(9.6 |
) |
|
$ |
— |
|
|
$ |
416.8 |
|
Total assets |
|
$ |
12,642.6 |
|
|
$ |
301.1 |
|
|
$ |
(153.0 |
) |
|
$ |
12,790.7 |
|
Capital expenditures |
|
$ |
1,178.2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,178.2 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 26, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.