OGE ENERGY CORP.

For the period ended Mar 31, 2025. Filed Apr 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 30, 2025

OGE$50.94+0.6%Stored close · as of Nov 10, 2026

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Contents

Oklahoma Gas and Electric Company Condensed Financial Statements

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Three Months Ended
	March 31,
(In millions)	2025	2024
OPERATING REVENUES
Revenues from contracts with customers	$741.1	$582.6
Other revenues	6.6	14.2
Operating revenues	747.7	596.8
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE	324.0	232.2
OPERATING EXPENSES
Other operation and maintenance	121.8	132.4
Depreciation and amortization	137.4	129.2
Taxes other than income	31.2	29.0
Operating expenses	290.4	290.6
OPERATING INCOME	133.3	74.0
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction	7.0	4.7
Other net periodic benefit income (expense)	(2.5)	1.8
Other income	5.3	2.0
Other expense	(0.9)	(1.9)
Net other income	8.9	6.6
INTEREST EXPENSE
Interest on long-term debt	55.6	51.1
Allowance for borrowed funds used during construction	(4.5)	(3.4)
Interest on short-term debt and other interest charges	5.7	3.7
Interest expense	56.8	51.4
INCOME BEFORE TAXES	85.4	29.2
INCOME TAX EXPENSE	14.4	4.0
NET INCOME	$71.0	$25.2
Other comprehensive income, net of tax	—	—
COMPREHENSIVE INCOME	$71.0	$25.2

CONDENSED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
(In millions)	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$71.0	$25.2
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	137.4	129.2
Deferred income taxes and other tax credits, net	0.3	4.2
Allowance for equity funds used during construction	(7.0)	(4.7)
Stock-based compensation expense	3.0	3.2
Regulatory assets	(9.5)	(6.4)
Regulatory liabilities	0.2	(3.3)
Other assets	(3.5)	(3.6)
Other liabilities	12.2	28.5
Change in certain current assets and liabilities:
Accounts receivable and accrued unbilled revenues, net	(48.8)	36.7
Fuel, materials and supplies inventories	13.0	9.6
Fuel recoveries	(59.7)	16.0
Other current assets	5.2	1.6
Accounts payable	(43.3)	(85.7)
Income taxes payable - parent	14.0	(0.2)
Other current liabilities	(37.8)	(25.7)
Net cash provided from operating activities	46.7	124.6
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (less allowance for equity funds used during construction)	(249.5)	(226.9)
Cost of removal	(13.9)	(16.2)
Net cash used in investing activities	(263.4)	(243.1)
CASH FLOWS FROM FINANCING ACTIVITIES
Changes in advances with parent	286.8	76.0
Proceeds from long-term debt	(0.1)	—
Payment of long-term debt	(32.4)	—
Increase in short-term debt	17.0	46.6
Increase in long-term borrowings under revolver	100.0	—
Dividends paid on common stock	(130.0)	—
Net cash provided from financing activities	241.3	122.6
NET CHANGE IN CASH AND CASH EQUIVALENTS	24.6	4.1
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	0.2	0.2
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$24.8	$4.3

CONDENSED BALANCE SHEETS

	March 31,	December 31,
(In millions)	2025	2024
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$24.8	$0.2
Accounts receivable, less reserve of $1.6 and $2.0, respectively	273.5	240.1
Accrued unbilled revenues	90.0	74.6
Fuel inventories	135.6	148.3
Materials and supplies, at average cost	229.1	229.4
Fuel clause under recoveries	164.6	112.7
Other	78.0	83.2
Total current assets	995.6	888.5
OTHER PROPERTY AND INVESTMENTS	4.4	4.5
PROPERTY, PLANT AND EQUIPMENT
In service	16,355.9	16,248.5
Construction work in progress	887.0	814.2
Total property, plant and equipment	17,242.9	17,062.7
Less: accumulated depreciation	5,035.8	4,982.2
Net property, plant and equipment	12,207.1	12,080.5
DEFERRED CHARGES AND OTHER ASSETS
Regulatory assets	558.3	568.1
Other	45.0	39.7
Total deferred charges and other assets	603.3	607.8
TOTAL ASSETS	$13,810.4	$13,581.3

CONDENSED BALANCE SHEETS (Continued)

	March 31,	December 31,
(In millions)	2025	2024
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES
Short-term debt	$17.0	$—
Accounts payable	207.2	272.2
Advances from parent	418.4	247.6
Customer deposits	111.5	111.1
Accrued taxes	32.7	51.4
Accrued interest	65.6	61.4
Accrued compensation	32.5	53.0
Long-term debt due within one year	—	32.4
Fuel clause over recoveries	1.5	9.3
Other	38.6	41.8
Total current liabilities	925.0	880.2
LONG-TERM DEBT	4,714.9	4,614.3
DEFERRED CREDITS AND OTHER LIABILITIES
Accrued benefit obligations	95.8	102.2
Deferred income taxes	1,427.7	1,410.7
Deferred investment tax credits	10.4	10.6
Regulatory liabilities	1,002.9	1,016.4
Other	233.3	220.5
Total deferred credits and other liabilities	2,770.1	2,760.4
Total liabilities	8,410.0	8,254.9
COMMITMENTS AND CONTINGENCIES (NOTE 12)
STOCKHOLDER'S EQUITY
Common stockholder's equity	1,592.5	1,589.5
Retained earnings	3,807.9	3,736.9
Total stockholder's equity	5,400.4	5,326.4
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	$13,810.4	$13,581.3

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY

	Common Stock
(In millions)	Shares	Value	Premium on Common Stock	Retained Earnings	Total
Balance at December 31, 2024	40.4	$100.9	$1,488.6	$3,736.9	$5,326.4
Net income	—	—	—	71.0	71.0
Stock-based compensation	—	—	3.0	—	3.0
Balance at March 31, 2025	40.4	$100.9	$1,491.6	$3,807.9	$5,400.4
Balance at December 31, 2023	40.4	$100.9	$1,476.8	$3,397.0	$4,974.7
Net income	—	—	—	25.2	25.2
Stock-based compensation	—	—	3.2	—	3.2
Balance at March 31, 2024	40.4	$100.9	$1,480.0	$3,422.2	$5,003.1

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