Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 28, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'OGE ENERGY CORP. | ' | ' |
Entity Central Index Key | '0001021635 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 198,620,521 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $6,733,312,753 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
OPERATING REVENUES | ' | ' | ' | |
Electric Utility operating revenues | $2,259.70 | $2,128.70 | $2,211.50 | |
Natural Gas Midstream Operations operating revenues (Note 1) | 608 | 1,542.50 | 1,704.40 | |
Total operating revenues | 2,867.70 | 3,671.20 | 3,915.90 | |
COST OF SALES | ' | ' | ' | |
Electric Utility Fuel and purchased power | 950 | 831.4 | 966 | |
Natural Gas Midstream Operations Cost of sales and fuel (Note 1) | 478.9 | 1,087.30 | 1,311.90 | |
Total cost of sales | 1,428.90 | 1,918.70 | 2,277.90 | |
OPERATING EXPENSES | ' | ' | ' | |
Other operation and maintenance | 489.2 | 601.5 | 581.2 | |
Depreciation and amortization | 297.3 | 371 | 307.1 | |
Impairment of assets | 0 | 0.4 | 6.3 | |
Gain on insurance proceeds | 0 | -7.5 | -3 | |
Taxes other than income | 98.8 | 110.2 | 99.7 | |
Total operating expenses | 885.3 | 1,075.60 | 991.3 | |
OPERATING INCOME | 553.5 | 676.9 | 646.7 | |
OTHER INCOME (EXPENSE) | ' | ' | ' | |
Equity in earnings of unconsolidated affiliates (Note 1) | 101.9 | 0 | 0 | |
Allowance for equity funds used during construction | 6.6 | 6.2 | 20.4 | |
Other income | 31.8 | 17.6 | 19.8 | |
Other expense | -22.2 | -16.5 | -21.7 | |
Net other income (expense) | 118.1 | 7.3 | 18.5 | |
INTEREST EXPENSE | ' | ' | ' | |
Interest on long-term debt | 145.6 | 158.9 | 146.1 | |
Allowance for borrowed funds used during construction | -3.4 | -3.5 | -10.4 | |
Interest on short-term debt and other interest charges | 5.3 | 8.7 | 5.2 | |
Interest expense | 147.5 | 164.1 | 140.9 | |
INCOME BEFORE TAXES | 524.1 | 520.1 | 524.3 | |
INCOME TAX EXPENSE | 130.3 | 135.1 | 160.7 | |
NET INCOME | 393.8 | 385 | 363.6 | |
Less: Net income attributable to noncontrolling interests | 6.2 | 30 | 20.7 | |
NET INCOME ATTRIBUTABLE TO OGE ENERGY | $387.60 | $355 | $342.90 | |
BASIC AVERAGE COMMON SHARES OUTSTANDING | 198.2 | 197.1 | 195.8 | |
DILUTED AVERAGE COMMON SHARES OUTSTANDING | 199.4 | 198.1 | 198.5 | |
BASIC EARNINGS PER AVERAGE COMMON SHARE ATTRIBUTABLE TO OGE ENERGY COMMON SHAREHOLDERS | $1.96 | [1] | $1.80 | $1.75 |
DILUTED EARNINGS PER AVERAGE COMMON SHARES ATTRIBUTABLE TO OGE ENERGY COMMON SHAREHOLDERS | $1.94 | [1] | $1.79 | $1.73 |
DIVIDENDS DECLARED PER COMMON SHARE | $0.85 | $0.80 | $0.76 | |
[1] | Due to the impact of dilution on the earnings per share calculation, quarterly earnings per share amounts may not add to the total. |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $393.80 | $385 | $363.60 |
Pension Plan and Restoration of Retirement Income Plan: | ' | ' | ' |
Amortization of deferred net loss, net of tax of $2.4, $1.7 and $1.4, respectively | 3.7 | 3 | 2.5 |
Net gain (loss) arising during the period, net of tax of $7.8, ($5.6) and ($6.7), respectively | 12.4 | -10.2 | -13.5 |
Amortization of prior service cost, net of tax of $0, $0.2 and $0.2, respectively | 0 | 0.2 | 0.4 |
Settlement cost, net of tax of $1.9, $0 and $0, respectively | 3 | 0 | 0 |
Postretirement Benefit Plans: | ' | ' | ' |
Amortization of deferred net loss, net of tax of $1.3, ($1.1) and ($1.6), respectively | 2 | 2 | 1.8 |
Net loss arising during the period, net of tax of $4.4, ($1.1) and ($3.1), respectively | 6.9 | -2.3 | -3.6 |
Amortization of deferred net transition obligation, net of tax of $0, $0.1 and $0.1, respectively | 0 | 0.1 | 0.2 |
Amortization of prior service cost, net of tax of $(1.1), ($1.0) and ($1.6), respectively | -1.8 | -1.8 | -1.8 |
Prior service credit arising during the period, net of tax of $0, $0, and $9.5, respectively | 0 | 0 | 10.8 |
Deferred commodity contracts hedging (gains) losses reclassified in net income, net of tax of $0.4, ($1.6) and $12.6, respectively | 0.6 | -3.6 | 27.6 |
Deferred commodity contracts hedging gains (losses), net of tax of $0, $0.1 and ($1.7), respectively | 0 | 0.4 | -4.8 |
Amortization of deferred interest rate swap hedging losses, net of tax of $0.1, $0.2, and $0.2, respectively | 0.3 | 0.2 | 0.3 |
Other comprehensive income (loss), net of tax | 27.1 | -12 | 19.9 |
Comprehensive income (loss) | 420.9 | 373 | 383.5 |
Less: Comprehensive income attributable to noncontrolling interest for sale of equity investment | 0 | -0.5 | -3.2 |
Less: Comprehensive income attributable to noncontrolling interests | 6.3 | 27 | 24.2 |
Less: Deconsolidation of Enogex Holdings | 6.1 | 0 | 0 |
Total comprehensive income attributable to OGE Energy | $408.50 | $346.50 | $362.50 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Parenthetical (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension Plan and Restoration of Retirement Income Plan: | ' | ' | ' |
Amortization of deferred net loss | $2.40 | $1.70 | $1.40 |
Net gain (loss) arising during the period | 7.8 | -5.6 | -6.7 |
Amortization of prior service cost | 0 | 0.2 | 0.2 |
Settlement cost | 1.9 | 0 | 0 |
Postretirement plans: | ' | ' | ' |
Amortization of deferred net loss | 1.3 | -1.1 | -1.6 |
Net loss arising during the period | 4.4 | -1.1 | -3.1 |
Amortization of deferred net transition obligation | 0 | 0.1 | 0.1 |
Amortization of prior service cost | -1.1 | -1 | -1.6 |
Prior service credit arising during the period | 0 | 0 | 9.5 |
Deferred commodity contracts hedging (gains) losses reclassified in net income | 0.4 | -1.6 | 12.6 |
Deferred commodity contracts hedging gains (losses) | 0 | 0.1 | -1.7 |
Amortization of deferred interest rate swap hedging losses | $0.10 | $0.20 | $0.20 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net income | $393.80 | $385 | $363.60 |
Adjustments to reconcile net income to net cash provided from operating activities | ' | ' | ' |
Depreciation and amortization | 298.6 | 374.8 | 307.7 |
Impairment of assets | 0 | 0.4 | 6.3 |
Deferred income taxes and investment tax credits, net | 125.9 | 143.7 | 166 |
Equity in earnings of unconsolidated affiliates | -101.9 | 0 | 0 |
Distributions from unconsolidated affiliates | 51.7 | 0 | 0 |
Allowance for equity funds used during construction | -6.6 | -6.2 | -20.4 |
(Gain) loss on disposition and abandonment of assets | -8.6 | 4.2 | -2.7 |
Gain on insurance proceeds | 0 | -7.5 | -3 |
Stock-based compensation | -3.5 | -2.6 | 7.8 |
Regulatory assets | 26.8 | 20.3 | 14 |
Regulatory liabilities | -32.5 | -14.8 | -1.9 |
Other assets | 1.3 | -6.9 | -7.6 |
Other liabilities | -7 | -14.3 | -37.4 |
Change in certain current assets and liabilities | ' | ' | ' |
Accounts receivable, net | -34 | 27.1 | -48 |
Accrued unbilled revenues | -1.3 | 1.9 | -2.5 |
Income taxes receivable | 1.6 | 1.1 | -3.6 |
Fuel, materials and supplies inventories | 5.1 | 13.7 | 54.2 |
Fuel clause under recoveries | -26.2 | 1.8 | -0.8 |
Other current assets | -4.5 | -8.6 | -8.2 |
Accounts payable | 56.9 | 25.1 | 34.5 |
Accounts payable - unconsolidated affiliates | 3.7 | 0 | 0 |
Fuel clause over recoveries | -108.8 | 101.5 | -22.2 |
Other current liabilities | -7.3 | 6.4 | 38.1 |
Net Cash Provided from Operating Activities | 623.2 | 1,046.10 | 833.9 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Capital expenditures (less allowance for equity funds used during construction) | -990.6 | -1,150.60 | -1,270.40 |
Investment in unconsolidated affiliates | -2.7 | 0 | 0 |
Acquisition of gathering assets | 0 | -78.6 | -200.4 |
Proceeds from insurance | 0 | 7.6 | 7.4 |
Reimbursement of capital expenditures | 0 | 27.5 | 49.6 |
Proceeds from sale of assets | 36.3 | 1.5 | 18 |
Net Cash Used in Investing Activities | -957 | -1,192.60 | -1,395.80 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from long-term debt | 247.4 | 250 | 246.3 |
Changes in advances with unconsolidated affiliates | 129.6 | 0 | 0 |
Contributions from noncontrolling interest partners | 107 | 46.2 | 216.4 |
Issuance of common stock | 14.2 | 14.3 | 14.8 |
Increase in short-term debt | 8.7 | 153.8 | 132.1 |
Repayment of line of credit | 0 | -150 | -25 |
Proceeds from line of credit | 0 | 0 | 150 |
Purchase of treasury stock | 0 | -3.4 | -6.2 |
Payment of long-term debt | -0.1 | -0.1 | 0 |
Distributions to noncontrolling interest partners | -2.5 | -12.6 | -17.4 |
Dividends paid on common stock | -165.5 | -154.5 | -146.8 |
Net Cash Provided from Financing Activities | 338.8 | 143.7 | 564.2 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 5 | -2.8 | 2.3 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 1.8 | 4.6 | 2.3 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $6.80 | $1.80 | $4.60 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $6.80 | $1.80 |
Accounts receivable, less reserve of $1.9 and $2.6, respectively | 179.4 | 295.3 |
Accounts receivable - unconsolidated affiliates | 12.4 | 0 |
Accrued unbilled revenues | 58.7 | 57.4 |
Income taxes receivable | 5.6 | 7.2 |
Fuel inventories | 74.4 | 93.3 |
Materials and supplies, at average cost | 80.7 | 80.9 |
Deferred income taxes | 215.8 | 187.7 |
Fuel clause under recoveries | 26.2 | 0 |
Assets held for sale | 0 | 25.5 |
Other | 34.6 | 45.1 |
Total current assets | 694.6 | 794.2 |
OTHER PROPERTY AND INVESTMENTS | ' | ' |
Investment in unconsolidated affiliates | 1,298.80 | 0 |
Other | 61 | 52.2 |
Total other property and investments | 1,359.80 | 52.2 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
In service | 9,183.10 | 11,504.40 |
Construction work in progress | 468.5 | 387.5 |
Total property, plant and equipment | 9,651.60 | 11,891.90 |
Less accumulated depreciation | 2,978.80 | 3,547.10 |
Net property, plant and equipment | 6,672.80 | 8,344.80 |
DEFERRED CHARGES AND OTHER ASSETS | ' | ' |
Regulatory assets | 379.1 | 510.6 |
Intangible assets, net | 0 | 127.4 |
Goodwill | 0 | 39.4 |
Other | 28.4 | 53.6 |
Total deferred charges and other assets | 407.5 | 731 |
TOTAL ASSETS | 9,134.70 | 9,922.20 |
CURRENT LIABILITIES | ' | ' |
Short-term debt | 439.6 | 430.9 |
Accounts payable | 251 | 396.7 |
Dividends payable | 44.7 | 41.2 |
Customer deposits | 70.9 | 70.3 |
Accrued taxes | 39.9 | 48.1 |
Accrued interest | 43.4 | 55 |
Accrued compensation | 56.9 | 55.2 |
Long-term debt due within one year | 100 | 0 |
Fuel clause over recoveries | 0.4 | 109.2 |
Other | 47 | 69.8 |
Total current liabilities | 1,093.80 | 1,276.40 |
LONG-TERM DEBT | 2,300.10 | 2,848.60 |
DEFERRED CREDITS AND OTHER LIABILITIES | ' | ' |
Accrued benefit obligations | 241.5 | 399.8 |
Deferred income taxes | 2,125.30 | 1,948.80 |
Deferred investment tax credits | 1.9 | 3.9 |
Regulatory liabilities | 234.2 | 245.1 |
Deferred revenues | 0.4 | 37.7 |
Other | 100.4 | 89.5 |
Total deferred credits and other liabilities | 2,703.70 | 2,724.80 |
Total liabilities | 6,097.60 | 6,849.80 |
COMMITMENTS AND CONTINGENCIES (NOTE 15) | ' | ' |
STOCKHOLDERS' EQUITY | ' | ' |
Common stockholders' equity | 1,073.60 | 1,047.40 |
Retained earnings | 1,991.70 | 1,772.40 |
Accumulated other comprehensive loss, net of tax | -28.2 | -49.1 |
Treasury stock, at cost | 0 | -3.5 |
Total OGE Energy stockholders' equity | 3,037.10 | 2,767.20 |
Noncontrolling interests | 0 | 305.2 |
Total stockholders' equity | 3,037.10 | 3,072.40 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $9,134.70 | $9,922.20 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS Parenthetical (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Allowance for Doubtful Accounts Receivable | $1.90 | $2.60 |
CONSOLIDATED_STATEMENTS_OF_CAP
CONSOLIDATED STATEMENTS OF CAPITALIZATION (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Common stock, par value $0.01 per share; authorized 450.0 shares; and outstanding 198.5 and 197.5 shares, respectively | $2 | $1 |
Premium on common stock | 1,071.60 | 1,046.40 |
Retained earnings | 1,991.70 | 1,772.40 |
Accumulated other comprehensive loss, net of tax | -28.2 | -49.1 |
Treasury stock, at cost, 0.1 and 0.1 shares, respectively | 0 | 3.5 |
Total OGE Energy stockholders' equity | 3,037.10 | 2,767.20 |
Noncontrolling interest | 0 | 305.2 |
Total stockholders' equity | 3,037.10 | 3,072.40 |
Total long-term debt | 2,400.10 | 2,848.60 |
Less long-term debt due within one year | -100 | 0 |
Total long-term debt (excluding debt due within one year) | 2,300.10 | 2,848.60 |
Total Capitalization | 5,437.20 | 5,921 |
OGE Energy [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Debt Instrument, Unamortized Discount | -0.1 | -0.1 |
Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Debt Instrument, Unamortized Discount | -5.5 | -5.8 |
Enogex LLC [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Debt Instrument, Unamortized Discount | ' | -1.6 |
Senior Notes [Member] | Series Due November 15, 2014 [Member] | OGE Energy [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 100 | 100 |
Senior Notes [Member] | Series Due January 15, 2016 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 110 | 110 |
Senior Notes [Member] | Series Due July 15, 2017 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 125 | 125 |
Senior Notes [Member] | Series Due September 1, 2018 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 250 | 250 |
Senior Notes [Member] | Series Due January 15, 2019 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 250 | 250 |
Senior Notes [Member] | Series Due July 15, 2027 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 125 | 125 |
Senior Notes [Member] | Series Due April 15, 2028 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 100 | 100 |
Senior Notes [Member] | Series Due August 1, 2034 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 140 | 140 |
Senior Notes [Member] | Series Due January 15, 2036 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 110 | 110 |
Senior Notes [Member] | Series Due February 1, 2038 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 200 | 200 |
Senior Notes [Member] | Series Due June 1, 2040 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 250 | 250 |
Senior Notes [Member] | Senior Notes due May 15, 2041 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 250 | 250 |
Senior Notes [Member] | Series due May 1, 2043 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 250 | 0 |
Senior Notes [Member] | Series Due July 15, 2014 [Member] | Enogex LLC [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 200 |
Senior Notes [Member] | Series Due August 2, 2015 [Member] | Enogex LLC [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 250 |
Senior Notes [Member] | Series Due March 15, 2020 [Member] | Enogex LLC [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 250 |
Long-term Debt [Member] | Due August 31, 2062 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 10.3 | 10.7 |
Debentures Subject to Mandatory Redemption [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Total long-term debt | 135.4 | ' |
Debentures Subject to Mandatory Redemption [Member] | Garfield Industrial Authority Bond [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 47 | 47 |
Debentures Subject to Mandatory Redemption [Member] | Muskogee Industrial Authority Bond Due 2025 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | 32.4 | 32.4 |
Debentures Subject to Mandatory Redemption [Member] | Muskogee Industrial Authority Bond Due 2027 [Member] | Og and E [Member] | ' | ' |
Schedule of Capitalization, Long-term Debt [Line Items] | ' | ' |
Long-term Debt, Gross | $56 | $56 |
CONSOLIDATED_STATEMENTS_OF_CAP1
CONSOLIDATED STATEMENTS OF CAPITALIZATION (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Long-term Debt [Member] | ||
Series Due November 15, 2014 [Member] | Series Due January 15, 2016 [Member] | Series Due July 15, 2017 [Member] | Series Due September 1, 2018 [Member] | Series Due January 15, 2019 [Member] | Series Due July 15, 2027 [Member] | Series Due April 15, 2028 [Member] | Series Due August 1, 2034 [Member] | Series Due January 15, 2036 [Member] | Series Due February 1, 2038 [Member] | Series Due June 1, 2040 [Member] | Senior Notes due May 15, 2041 [Member] | Due August 31, 2062 [Member] | OG and E Tinker Debt [Member] | |||
OGE Energy [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | OG&E [Member] | |||
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | 450 | 225 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 198.5 | 197.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares | 0.1 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | 15-Nov-14 | 15-Jan-16 | 15-Jul-17 | 1-Sep-18 | 15-Jan-19 | 15-Jul-27 | 15-Apr-28 | 1-Aug-34 | 15-Jan-36 | 1-Feb-38 | 1-Jun-40 | 15-May-41 | 1-May-43 | 31-Aug-62 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock | Premium on Common Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest | Treasury Stock |
In Millions, unless otherwise specified | |||||||
Balance at Dec. 31, 2010 | $2,400 | $1 | $968.20 | $1,380.60 | ($60.20) | $110.40 | $0 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' |
Net income | 363.6 | 0 | 0 | 342.9 | 0 | 20.7 | 0 |
Other comprehensive income (loss), net of tax | 19.9 | 0 | 0 | 0 | 19.6 | 0.3 | 0 |
Dividends declared on common stock | -148.7 | 0 | 0 | -148.7 | 0 | 0 | 0 |
Issuance of common stock | 14.8 | 0 | 14.8 | 0 | 0 | 0 | 0 |
Stock-based compensation and other | 5.8 | 0 | 5.8 | 0 | 0 | 0 | 0 |
Contributions from noncontrolling interest partners | 216.4 | 0 | 74.4 | 0 | 0 | 142 | 0 |
Distributions to noncontrolling interest partners | -17.4 | 0 | 0 | 0 | 0 | -17.4 | 0 |
Deferred income taxes attributable to contributions from noncontrolling interest partners | -28.9 | 0 | -28.9 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | -6.2 | 0 | 0 | 0 | 0 | 0 | -6.2 |
Balance at Dec. 31, 2011 | 2,819.30 | 1 | 1,034.30 | 1,574.80 | -40.6 | 256 | -6.2 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' |
Net income | 385 | 0 | 0 | 355 | 0 | 30 | 0 |
Other comprehensive income (loss), net of tax | -12 | 0 | 0 | 0 | -8.5 | -3.5 | 0 |
Dividends declared on common stock | -157.4 | 0 | 0 | 157.4 | 0 | 0 | 0 |
Issuance of common stock | 14.3 | 0 | 14.3 | 0 | 0 | 0 | 0 |
Stock-based compensation and other | -2.8 | 0 | -8.7 | 0 | 0 | -0.2 | 6.1 |
Contributions from noncontrolling interest partners | 46.2 | 0 | 10.7 | 0 | 0 | 35.5 | 0 |
Distributions to noncontrolling interest partners | -12.6 | 0 | 0 | 0 | 0 | -12.6 | 0 |
Deferred income taxes attributable to contributions from noncontrolling interest partners | -4.2 | 0 | -4.2 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | -3.4 | 0 | 0 | 0 | 0 | 0 | -3.4 |
Balance at Dec. 31, 2012 | 3,072.40 | 1 | 1,046.40 | 1,772.40 | -49.1 | 305.2 | -3.5 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' |
Net income | 393.8 | 0 | 0 | 387.6 | 0 | 6.2 | 0 |
Other comprehensive income (loss), net of tax | 27.1 | 0 | 0 | 0 | 27 | 0.1 | 0 |
Dividends declared on common stock | -168.8 | 0 | 0 | -168.8 | 0 | 0 | 0 |
Issuance of common stock | 14.2 | 0 | 14.2 | 0 | 0 | 0 | 0 |
Stock-based compensation and other | 0.9 | 0 | -1.8 | 0 | 0 | -0.8 | 3.5 |
Contributions from noncontrolling interest partners | 107 | 0 | 22.5 | 0 | 0 | 84.5 | 0 |
Distributions to noncontrolling interest partners | -2.5 | 0 | 0 | 0 | 0 | -2.5 | 0 |
Deconsolidation of Enogex Holdings | -398.3 | 0 | 0 | 0.5 | -6.1 | -392.7 | 0 |
Deferred income taxes attributable to contributions from noncontrolling interest partners | -8.7 | 0 | -8.7 | 0 | 0 | 0 | 0 |
2-for-1 forward stock split | 0 | 1 | -1 | 0 | 0 | 0 | 0 |
Purchase of treasury stock | 0 | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $3,037.10 | $2 | $1,071.60 | $1,991.70 | ($28.20) | $0 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||||||||
Summary of Significant Accounting Policies | ||||||||||||||||||||||||||
Organization | ||||||||||||||||||||||||||
The Company is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company conducts these activities through two business segments: (i) electric utility and (ii) natural gas midstream operations. For a discussion of the change in the Company’s business segments due to the formation of Enable, see Note 14. For periods prior to May 1, 2013, the Company consolidated Enogex Holdings in its Condensed Consolidated Financial Statements. All significant intercompany transactions have been eliminated in consolidation. | ||||||||||||||||||||||||||
Effective May 1, 2013, OGE Energy, the ArcLight group and CenterPoint Energy, Inc., formed Enable Midstream Partners, LP to own and operate the midstream businesses of OGE Energy and CenterPoint. In the formation transaction, OGE Energy and ArcLight group contributed Enogex LLC to Enable and the Company deconsolidated its previously held investment in Enogex Holdings and acquired an equity interest in Enable. The Company determined that its contribution of Enogex LLC to Enable met the requirements of being in substance real estate and was recorded at historical cost. The general partner of Enable is equally controlled by CenterPoint and OGE Energy, who each have 50 percent of the management rights. Based on the 50/50 management ownership, with neither company having control, effective May 1, 2013, OGE Energy began accounting for its interest in Enable using the equity method of accounting. At December 31, 2013, OGE Energy, through its wholly owned subsidiary OGE Holdings, holds 28.5 percent of the limited partner interests in Enable. OGE Energy also owns a 60 percent interest in any incentive distribution rights in Enable. Incentive distribution rights are expected to entitle the holder to increasing percentages, up to a maximum of 50 percent, of the cash distributed by Enable in excess of the target quarterly distributions to be set in connection with Enable’s initial public offering. On November 26, 2013, Enable filed a registration statement on Form S-1 related to the proposed initial public offering of limited partnership interests that will have the effect of making Enable a publicly traded master limited partnership. | ||||||||||||||||||||||||||
The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through OG&E and are subject to regulation by the OCC, the APSC and the FERC. OG&E was incorporated in 1902 under the laws of the Oklahoma Territory. OG&E is the largest electric utility in Oklahoma and its franchised service territory includes the Fort Smith, Arkansas area. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business. | ||||||||||||||||||||||||||
The natural gas midstream operations segment consists of the Company's investment in Enable. Enable is engaged in the business of gathering, processing, transporting and storing natural gas. Enable's natural gas gathering and processing assets are strategically located in four states and serve natural gas production from shale developments in the Anadarko, Arkoma and Ark-La-Tex basins. Enable also owns an emerging crude oil gathering business in the Bakken shale formation that commenced initial operations in November 2013. Enable is continuing to construct additional crude oil gathering capacity in this area. Enable's natural gas transportation and storage assets extend from western Oklahoma and the Texas Panhandle to Alabama and from Louisiana to Illinois. | ||||||||||||||||||||||||||
As discussed below, the Company completed a 2-for-1 stock split of the Company's common stock effective July 1, 2013. All share and per share amounts within this Form 10-K reflect the effects of the stock split. | ||||||||||||||||||||||||||
OGE Energy charges operating costs to its subsidiaries and unconsolidated affiliate based on several factors. Operating costs directly related to specific subsidiaries or unconsolidated affiliate are assigned to those subsidiaries or unconsolidated affiliate. Where more than one subsidiary or unconsolidated affiliate benefits from certain expenditures, the costs are shared between those subsidiaries and unconsolidated affiliate receiving the benefits. Operating costs incurred for the benefit of all subsidiaries and unconsolidated affiliate are allocated among the subsidiaries and unconsolidated affiliate, either as overhead based primarily on labor costs or using the "Distrigas" method. The Distrigas method is a three-factor formula that uses an equal weighting of payroll, net operating revenues and gross property, plant and equipment. OGE Energy adopted the Distrigas method in January 1996 as a result of a recommendation by the OCC Staff. OGE Energy believes this method provides a reasonable basis for allocating common expenses. | ||||||||||||||||||||||||||
Basis of Presentation | ||||||||||||||||||||||||||
In the opinion of management, all adjustments necessary to fairly present the consolidated financial position of the Company at December 31, 2013 and 2012 and the results of its operations and cash flows for the years ended December 31, 2013, 2012 and 2011, have been included and are of a normal recurring nature except as otherwise disclosed. | ||||||||||||||||||||||||||
Accounting Records | ||||||||||||||||||||||||||
The accounting records of OG&E are maintained in accordance with the Uniform System of Accounts prescribed by the FERC and adopted by the OCC and the APSC. Additionally, OG&E, as a regulated utility, is subject to accounting principles for certain types of rate-regulated activities, which provide that certain actual or anticipated costs that would otherwise be charged to expense can be deferred as regulatory assets, based on the expected recovery from customers in future rates. Likewise, certain actual or anticipated credits that would otherwise reduce expense can be deferred as regulatory liabilities, based on the expected flowback to customers in future rates. Management's expected recovery of deferred costs and flowback of deferred credits generally results from specific decisions by regulators granting such ratemaking treatment. | ||||||||||||||||||||||||||
OG&E records certain actual or anticipated costs and obligations as regulatory assets or liabilities if it is probable, based on regulatory orders or other available evidence, that the cost or obligation will be included in amounts allowable for recovery or refund in future rates. | ||||||||||||||||||||||||||
The following table is a summary of OG&E's regulatory assets and liabilities at: | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||
Current | ||||||||||||||||||||||||||
Fuel clause under recoveries | $ | 26.2 | $ | — | ||||||||||||||||||||||
Oklahoma demand program rider under recovery (A) | 10.6 | 9.2 | ||||||||||||||||||||||||
Crossroads wind farm rider under recovery (A) | 4.7 | 14.9 | ||||||||||||||||||||||||
Other (A) | 7.3 | 2.9 | ||||||||||||||||||||||||
Total Current Regulatory Assets | $ | 48.8 | $ | 27 | ||||||||||||||||||||||
Non-Current | ||||||||||||||||||||||||||
Benefit obligations regulatory asset | $ | 227.4 | $ | 370.6 | ||||||||||||||||||||||
Income taxes recoverable from customers, net | 56.5 | 54.7 | ||||||||||||||||||||||||
Smart Grid | 44.2 | 42.8 | ||||||||||||||||||||||||
Deferred storm expenses | 21.6 | 12.7 | ||||||||||||||||||||||||
Unamortized loss on reacquired debt | 11.8 | 13 | ||||||||||||||||||||||||
Pension tracker | 1.4 | — | ||||||||||||||||||||||||
Other | 16.2 | 16.8 | ||||||||||||||||||||||||
Total Non-Current Regulatory Assets | $ | 379.1 | $ | 510.6 | ||||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||
Current | ||||||||||||||||||||||||||
Smart Grid rider over recovery (B) | $ | 16.7 | $ | 24.1 | ||||||||||||||||||||||
Fuel clause over recoveries | 0.4 | 109.2 | ||||||||||||||||||||||||
Other (B) | 3.1 | 7.8 | ||||||||||||||||||||||||
Total Current Regulatory Liabilities | $ | 20.2 | $ | 141.1 | ||||||||||||||||||||||
Non-Current | ||||||||||||||||||||||||||
Accrued removal obligations, net | $ | 227.7 | $ | 218.2 | ||||||||||||||||||||||
Deferred pension credits | 6.5 | 17.7 | ||||||||||||||||||||||||
Pension tracker | — | 9.2 | ||||||||||||||||||||||||
Total Non-Current Regulatory Liabilities | $ | 234.2 | $ | 245.1 | ||||||||||||||||||||||
(A) | Included in Other Current Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||||
(B) | Included in Other Current Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||
OG&E recovers a return on the capital expenditures along with operation and maintenance expense and depreciation expense related to the Crossroads wind farm through riders established by the OCC and APSC. OG&E began recovery in the fourth quarter of 2011 in Oklahoma and June of 2013 in Arkansas, and believes the rider will continue until new rates are implemented in OG&E's next general rate case in each jurisdiction. | ||||||||||||||||||||||||||
OG&E recovers program costs related to the Demand and Energy Efficiency Program. An extension of the demand program rider was approved in December 2012, which allows for the recovery of demand program costs, lost revenues associated with certain achieved energy, demand savings and performance based incentives and the recovery of costs associated with research and development investments through December 2015. | ||||||||||||||||||||||||||
Fuel clause under recoveries are generated from under recoveries from OG&E's customers when OG&E's cost of fuel exceeds the amount billed to its customers. Fuel clause over recoveries are generated from over recoveries from OG&E's customers when the amount billed to its customers exceeds OG&E's cost of fuel. OG&E's fuel recovery clauses are designed to smooth the impact of fuel price volatility on customers' bills. As a result, OG&E under recovers fuel costs in periods of rising fuel prices above the baseline charge for fuel and over recovers fuel costs when prices decline below the baseline charge for fuel. Provisions in the fuel clauses are intended to allow OG&E to amortize under and over recovery balances. | ||||||||||||||||||||||||||
The benefit obligations regulatory asset is comprised of expenses recorded which are probable of future recovery and that have not yet been recognized as components of net periodic benefit cost, including net loss, prior service cost and net transition obligation. These expenses are recorded as a regulatory asset as OG&E had historically recovered and currently recovers pension and postretirement benefit plan expense in its electric rates. If, in the future, the regulatory bodies indicate a change in policy related to the recovery of pension and postretirement benefit plan expenses, this could cause the benefit obligations regulatory asset balance to be reclassified to Accumulated other comprehensive income. | ||||||||||||||||||||||||||
The following table is a summary of the components of the benefit obligations regulatory asset at: | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | 178.4 | $ | 278.6 | ||||||||||||||||||||||
Prior service cost | 2.5 | 4.5 | ||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | 79.9 | 134.6 | ||||||||||||||||||||||||
Prior service cost | (33.4 | ) | (47.1 | ) | ||||||||||||||||||||||
Total | $ | 227.4 | $ | 370.6 | ||||||||||||||||||||||
The following amounts in the benefit obligations regulatory asset at December 31, 2013 are expected to be recognized as components of net periodic benefit cost in 2014: | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | 11.4 | ||||||||||||||||||||||||
Prior service cost | 2 | |||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | 11 | |||||||||||||||||||||||||
Prior service cost | (13.7 | ) | ||||||||||||||||||||||||
Total | $ | 10.7 | ||||||||||||||||||||||||
Income taxes recoverable from customers, which represents income tax benefits previously used to reduce OG&E's revenues, are treated as regulatory assets and liabilities and are being amortized over the estimated remaining life of the assets to which they relate. These amounts are being recovered in rates as the temporary differences that generated the income tax benefit turn around. The income tax related regulatory assets and liabilities are netted in Income taxes recoverable from customers, net in the regulatory assets and liabilities table above. | ||||||||||||||||||||||||||
OG&E recovers the cost of system-wide deployment of smart grid technology and implementing the smart grid pilot program, the incremental costs for web portal access, education and providing home energy reports and stranded costs associated with OG&E's existing meters. The costs recoverable from Oklahoma customers for system-wide deployment of smart grid technology and implementing the smart grid pilot program were capped at $366.4 million (inclusive of the U.S. Department of Energy grant award of $130.0 million) subject to an offset for any recovery of those costs from Arkansas customers. These amounts are currently being recovered through a rider which will remain in effect until the smart grid project costs are included in base rates in OG&E's next general rate case. Costs not included in the rider are the incremental costs for web portal access, education and home energy reports, which are capped at $6.9 million, and the stranded costs associated with OG&E's existing meters, which have been replaced by smart meters, which were accumulated during the smart grid deployment and have been included in the Smart Grid asset in the table above. These costs are expected to be recovered in base rates in OG&E's next general rate case. | ||||||||||||||||||||||||||
OG&E defers annual Oklahoma storm-related operation and maintenance expenses in excess of $2.7 million and expenses any Oklahoma storm-related operation and maintenance expenses up to $2.7 million. OG&E will recover the deferred amounts over a five-year period ending in August 2017. | ||||||||||||||||||||||||||
Unamortized loss on reacquired debt is comprised of unamortized debt issuance costs related to the early retirement of OG&E's long-term debt. These amounts are recorded in interest expenses and are being amortized over the term of the long-term debt which replaced the previous long-term debt. The unamortized loss on reacquired debt is not included in OG&E's rate base and does not otherwise earn a rate of return. | ||||||||||||||||||||||||||
OG&E recovers specific amounts of pension and postretirement medical costs in rates approved in its Oklahoma rate cases. In accordance with approved orders, OG&E defers the difference between actual pension and postretirement medical expenses and the amount approved in its last Oklahoma rate case as a regulatory asset or regulatory liability. These amounts have been recorded in the Pension tracker in the regulatory assets and liabilities table above. | ||||||||||||||||||||||||||
In September 2011, OG&E was allowed to include postretirement medical expenses in its pension tracker. In August 2012, OG&E was allowed to recover pension and postretirement medical expenses over a two-year period ending July 2014 which is included in Deferred pension credits in the regulatory assets and liabilities table above. | ||||||||||||||||||||||||||
Accrued removal obligations represent asset retirement costs previously recovered from ratepayers for other than legal obligations. | ||||||||||||||||||||||||||
Management continuously monitors the future recoverability of regulatory assets. When in management's judgment future recovery becomes impaired, the amount of the regulatory asset is adjusted, as appropriate. If OG&E were required to discontinue the application of accounting principles for certain types of rate-regulated activities for some or all of its operations, it could result in writing off the related regulatory assets, which could have significant financial effects. | ||||||||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||||||||
In preparing the Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Changes to these assumptions and estimates could have a material effect on the Company's Consolidated Financial Statements. However, the Company believes it has taken reasonable positions where assumptions and estimates are used in order to minimize the negative financial impact to the Company that could result if actual results vary from the assumptions and estimates. In management's opinion, the areas of the Company where the most significant judgment is exercised for all Company segments includes the determination of Pension Plan assumptions, impairment estimates of long-lived assets (including intangible assets), income taxes, contingency reserves, asset retirement obligations and assets and depreciable lives of property, plant and equipment. For the electric utility segment, the most significant judgment is also exercised in the existence of regulatory assets and liabilities and unbilled revenues. | ||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||
For purposes of the Consolidated Financial Statements, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. | ||||||||||||||||||||||||||
Allowance for Uncollectible Accounts Receivable | ||||||||||||||||||||||||||
For OG&E, customer balances are generally written off if not collected within six months after the final billing date. The allowance for uncollectible accounts receivable for OG&E is calculated by multiplying the last six months of electric revenue by the provision rate. The provision rate is based on a 12-month historical average of actual balances written off. To the extent the historical collection rates are not representative of future collections, there could be an effect on the amount of uncollectible expense recognized. Also, a portion of the uncollectible provision related to fuel within the Oklahoma jurisdiction is being recovered through the fuel adjustment clause. The allowance for uncollectible accounts receivable was $1.9 million and $2.6 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
For OG&E, new business customers are required to provide a security deposit in the form of cash, bond or irrevocable letter of credit that is refunded when the account is closed. New residential customers, whose outside credit scores indicate an elevated risk, are required to provide a security deposit that is refunded based on customer protection rules defined by the OCC and the APSC. The payment behavior of all existing customers is continuously monitored and, if the payment behavior indicates sufficient risk within the meaning of the applicable utility regulation, customers will be required to provide a security deposit. | ||||||||||||||||||||||||||
Fuel Inventories | ||||||||||||||||||||||||||
Fuel inventories for the generation of electricity consist of coal, natural gas and oil. OG&E uses the weighted-average cost method of accounting for inventory that is physically added to or withdrawn from storage or stockpiles. The amount of fuel inventory was $74.4 million and $76.8 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
Gas Imbalances | ||||||||||||||||||||||||||
Gas imbalances occur when the actual amounts of natural gas delivered from or received by OG&E differ from the amounts scheduled to be delivered or received. OG&E values all imbalances at an average of current market indices applicable to OG&E's operations, not to exceed net realizable value. | ||||||||||||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||||||||||||
All property, plant and equipment is recorded at cost. Newly constructed plant is added to plant balances at cost which includes contracted services, direct labor, materials, overhead, transportation costs and the allowance for funds used during construction. Replacements of units of property are capitalized as plant. For assets that belong to a common plant account, the replaced plant is removed from plant balances and the cost of such property is charged to Accumulated Depreciation. For assets that do not belong to a common plant account, the replaced plant is removed from plant balances with the related accumulated depreciation and the remaining balance net of any salvage proceeds is recorded as a loss in the Consolidated Statements of Income as Other Expense. Repair and replacement of minor items of property are included in the Consolidated Statements of Income as Other Operation and Maintenance Expense. | ||||||||||||||||||||||||||
The table below presents OG&E's ownership interest in the jointly-owned McClain Plant and the jointly-owned Redbud Plant, and, as disclosed below, only OG&E's ownership interest is reflected in the property, plant and equipment and accumulated depreciation balances in these tables. The owners of the remaining interests in the McClain Plant and the Redbud Plant are responsible for providing their own financing of capital expenditures. Also, only OG&E's proportionate interests of any direct expenses of the McClain Plant and the Redbud Plant such as fuel, maintenance expense and other operating expenses are included in the applicable financial statement captions in the Consolidated Statement of Income. | ||||||||||||||||||||||||||
December 31, 2013 (In millions) | Percentage Ownership | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | ||||||||||||||||||||||
McClain Plant (A) | 77 | % | $ | 180.8 | $ | 62.1 | $ | 118.7 | ||||||||||||||||||
Redbud Plant (A)(B) | 51 | % | $ | 498.9 | $ | 89.7 | $ | 409.2 | ||||||||||||||||||
(A) | Construction work in progress was $0.1 million and $39.5 million for the McClain and Redbud Plants, respectively. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $28.8 million. | |||||||||||||||||||||||||
December 31, 2012 (In millions) | Percentage Ownership | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | ||||||||||||||||||||||
McClain Plant (A) | 77 | % | $ | 182.1 | $ | 56.3 | $ | 125.8 | ||||||||||||||||||
Redbud Plant (A)(B) | 51 | % | $ | 458.5 | $ | 69.5 | $ | 389 | ||||||||||||||||||
(A) | Construction work in progress was $0.1 million and $0.3 million for the McClain and Redbud Plants, respectively. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $23.3 million. | |||||||||||||||||||||||||
OGE Energy Consolidated | ||||||||||||||||||||||||||
The Company's property, plant and equipment and related accumulated depreciation are divided into the following major classes at: | ||||||||||||||||||||||||||
December 31, 2013 (In millions) | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | |||||||||||||||||||||||
OGE Energy (holding company) | ||||||||||||||||||||||||||
Property, plant and equipment | $ | 152.4 | $ | 114.2 | $ | 38.2 | ||||||||||||||||||||
OGE Energy property, plant and equipment | 152.4 | 114.2 | 38.2 | |||||||||||||||||||||||
OG&E | ||||||||||||||||||||||||||
Distribution assets | 3,403.80 | 1,028.20 | 2,375.60 | |||||||||||||||||||||||
Electric generation assets (A) | 3,551.00 | 1,306.10 | 2,244.90 | |||||||||||||||||||||||
Transmission assets (B) | 2,163.70 | 385 | 1,778.70 | |||||||||||||||||||||||
Intangible plant | 50.5 | 27.1 | 23.4 | |||||||||||||||||||||||
Other property and equipment | 330.2 | 118.2 | 212 | |||||||||||||||||||||||
OG&E property, plant and equipment | 9,499.20 | 2,864.60 | 6,634.60 | |||||||||||||||||||||||
Total property, plant and equipment | $ | 9,651.60 | $ | 2,978.80 | $ | 6,672.80 | ||||||||||||||||||||
(A) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $28.8 million. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $3.3 million and accumulated amortization of $0.3 million. | |||||||||||||||||||||||||
December 31, 2012 (In millions) | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | |||||||||||||||||||||||
OGE Energy (holding company) | ||||||||||||||||||||||||||
Property, plant and equipment | $ | 142.1 | $ | 103.2 | $ | 38.9 | ||||||||||||||||||||
OGE Energy property, plant and equipment | 142.1 | 103.2 | 38.9 | |||||||||||||||||||||||
OG&E | ||||||||||||||||||||||||||
Distribution assets | 3,222.70 | 969.6 | 2,253.10 | |||||||||||||||||||||||
Electric generation assets (A) | 3,446.60 | 1,242.40 | 2,204.20 | |||||||||||||||||||||||
Transmission assets (B) | 1,712.60 | 359.8 | 1,352.80 | |||||||||||||||||||||||
Intangible plant | 50.2 | 25 | 25.2 | |||||||||||||||||||||||
Other property and equipment | 317.6 | 108.8 | 208.8 | |||||||||||||||||||||||
OG&E property, plant and equipment | 8,749.70 | 2,705.60 | 6,044.10 | |||||||||||||||||||||||
Enogex | ||||||||||||||||||||||||||
Natural gas transportation and storage assets | 988.6 | 292.7 | 695.9 | |||||||||||||||||||||||
Natural gas gathering and processing assets | 2,011.50 | 445.6 | 1,565.90 | |||||||||||||||||||||||
Enogex property, plant and equipment | 3,000.10 | 738.3 | 2,261.80 | |||||||||||||||||||||||
Total property, plant and equipment | $ | 11,891.90 | $ | 3,547.10 | $ | 8,344.80 | ||||||||||||||||||||
(A) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $23.3 million. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $3.3 million and accumulated amortization of $0.3 million. | |||||||||||||||||||||||||
The following table summarizes the Company's unamortized computer software costs. | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
OGE Energy (holding company) | $ | 7.2 | $ | 11.6 | ||||||||||||||||||||||
OG&E | 16.8 | 17.6 | ||||||||||||||||||||||||
Enogex | — | 3.9 | ||||||||||||||||||||||||
Total | $ | 24 | $ | 33.1 | ||||||||||||||||||||||
The following table summarizes the Company's amortization expense for computer software costs. | ||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||
OGE Energy (holding company) | $ | 6.4 | $ | 6.8 | $ | 6.4 | ||||||||||||||||||||
OG&E | 4 | 4.2 | 1.8 | |||||||||||||||||||||||
Enogex | 0.8 | 3.1 | 1 | |||||||||||||||||||||||
Total | $ | 11.2 | $ | 14.1 | $ | 9.2 | ||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||
As a result of the formation of Enable on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company no longer has intangible assets. | ||||||||||||||||||||||||||
OGE Holdings | ||||||||||||||||||||||||||
The following table below summarizes OGE Holdings' intangible assets and related accumulated amortization at: December 31, 2012. | ||||||||||||||||||||||||||
(In millions) | Total Intangible Assets | Accumulated Amortization | Net Intangible Assets | |||||||||||||||||||||||
Customer Contract / Acreage Dedication | $ | 141.9 | $ | 14.5 | $ | 127.4 | ||||||||||||||||||||
In 2013, 2012 and 2011, amortization expense for intangible assets was $1.9 million, $9.6 million and $2.1 million, respectively, including amortization of certain customer-based intangible assets associated with the acquisition from Cordillera in November 2011, which is included as a reduction in revenue for financial reporting purposes. | ||||||||||||||||||||||||||
Depreciation and Amortization | ||||||||||||||||||||||||||
The provision for depreciation, which was 2.8 percent and 3.0 percent, respectively, of the average depreciable utility plant for 2013 and 2012, is provided on a straight-line method over the estimated service life of the utility assets. Depreciation is provided at the unit level for production plant and at the account or sub-account level for all other plant, and is based on the average life group method. In 2014, the provision for depreciation is projected to be 2.8 percent of the average depreciable utility plant. Amortization of intangible assets is computed using the straight-line method. Of the remaining amortizable intangible plant balance at December 31, 2013, 93.5 percent will be amortized over 9 years with 6.5 percent of the remaining amortizable intangible plant balance at December 31, 2013 being amortized over 26 years.. Amortization of plant acquisition adjustments is provided on a straight-line basis over the estimated remaining service life of the acquired asset. Plant acquisition adjustments include $148.3 million for the Redbud Plant, which are being amortized over a 27-year life and $3.3 million for certain substation facilities in OG&E's service territory, which are being amortized over a 26 to 59-year period. | ||||||||||||||||||||||||||
Investment in Unconsolidated Affiliate | ||||||||||||||||||||||||||
OGE Energy's investment in Enable is considered to be a variable interest entity because the owners of the equity at risk in this entity have disproportionate voting rights in relation to their obligations to absorb the entity's expected losses or to receive its expected residual returns. However, OGE Energy is not considered the primary beneficiary of Enable since it does not have the power to direct the activities of Enable that are considered most significant to the economic performance of Enable. As discussed above, OGE Energy accounts for the investment in Enable using the equity method of accounting. Under the equity method, the investment will be adjusted each period for contributions made, distributions received and the Company's share of the investee's comprehensive income. OGE Energy's maximum exposure to loss related to Enable is limited to OGE Energy's equity investment in Enable as presented on the Company's Consolidated Balance Sheet at December 31, 2013. The Company evaluates its equity method investments for impairment when events or changes in circumstances indicate there is a loss in value of the investment that is other than a temporary decline. | ||||||||||||||||||||||||||
The Company considers distributions received from its unconsolidated affiliates which do not exceed cumulative equity in earnings subsequent to the date of investment to be a return on investment which are classified as operating activities in the Consolidated Statements of Cash Flows. The Company considers distributions received from its unconsolidated affiliates in excess of cumulative equity in earnings subsequent to the date of investment to be a return of investment which are classified as investing activities in the Consolidated Statements of Cash Flows. | ||||||||||||||||||||||||||
Asset Retirement Obligations | ||||||||||||||||||||||||||
The Company has previously recorded asset retirement obligations that are being amortized over their respective lives ranging from 20 to 74 years. | ||||||||||||||||||||||||||
The following table summarizes changes to the Company's asset retirement obligations during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Balance at January 1 | $ | 54 | $ | 24.8 | ||||||||||||||||||||||
Liabilities settled (A) | (0.4 | ) | 0.4 | |||||||||||||||||||||||
Accretion expense | 2.3 | 1.9 | ||||||||||||||||||||||||
Revisions in estimated cash flows (B) | (0.7 | ) | 26.9 | |||||||||||||||||||||||
Balance at December 31 | $ | 55.2 | $ | 54 | ||||||||||||||||||||||
(A) | As a result of the formation of Enable on May 1, 2013, the Company has no obligations at December 31, 2013 under OGE Holdings' asset retirement obligations previously disclosed in the Company's 2012 10-K. | |||||||||||||||||||||||||
(B) | Due to changes to OG&E's asset retirement obligations related to its wind farms as a result of changes in the assumption related to the timing of removal used in the valuation of the asset retirement obligations. | |||||||||||||||||||||||||
Assessing Impairment of Long-Lived Assets (Including Intangible Assets) and Goodwill | ||||||||||||||||||||||||||
As a result of the formation of Enable Midstream Partners on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company no longer has intangible assets or goodwill. | ||||||||||||||||||||||||||
The Company assesses its long-lived assets (inclusive of definite-lived intangible assets prior to the deconsolidation of Enogex Holdings) for impairment when there is evidence that events or changes in circumstances require an analysis of the recoverability of an asset's carrying amount. Estimates of future cash flows used to test the recoverability of long-lived assets and intangible assets shall include only the future cash flows (cash inflows less associated cash outflows) that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset. The fair value of these assets is based on third-party evaluations, prices for similar assets, historical data and projected cash flows. An impairment loss is recognized when the sum of the expected future net cash flows is less than the carrying amount of the asset. The amount of any recognized impairment is based on the estimated fair value of the asset subject to impairment compared to the carrying amount of such asset. In 2011, the Company recorded a pre-tax impairment loss of $5.0 million, of which $2.5 million was the noncontrolling interest portion (see Note 4), related to the Atoka processing plant. The Company recorded no other material impairments in 2013, 2012 or 2011. | ||||||||||||||||||||||||||
Allowance for Funds Used During Construction | ||||||||||||||||||||||||||
For OG&E, allowance for funds used during construction is calculated according to the FERC pronouncements for the imputed cost of equity and borrowed funds. Allowance for funds used during construction, a non-cash item, is reflected as an increase to net other income and a reduction to interest expense in the Consolidated Statements of Income and as an increase to Construction Work in Progress in the Consolidated Balance Sheets. Allowance for funds used during construction rates, compounded semi-annually, were 8.33 percent, 8.93 percent and 8.71 percent for the years ended December 31, 2013, 2012 and 2011, respectively. The decrease in the allowance for funds used during construction rates in 2013 was primarily due to two factors. First, a decrease in the common equity cost rate caused the equity portion of allowance for equity funds used during construction to decrease. Second, an increase in the average daily balance of short term debt allowed the fixed commercial paper fees to be lower per dollar of short term debt, resulting in a lower short term debt rate, which caused the debt portion of allowance for funds used during construction to decrease. | ||||||||||||||||||||||||||
Collection of Sales Tax | ||||||||||||||||||||||||||
In the normal course of its operations, OG&E collects sales tax from its customers. OG&E records a current liability for sales taxes when it bills its customers and eliminates this liability when the taxes are remitted to the appropriate governmental authorities. OG&E excludes the sales tax collected from its operating revenues. | ||||||||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||||||||
General | ||||||||||||||||||||||||||
OG&E reads its customers' meters and sends bills to its customers throughout each month. As a result, there is a significant amount of customers' electricity consumption that has not been billed at the end of each month. Unbilled revenue is presented in Accrued Unbilled Revenues on the Consolidated Balance Sheets and in Operating Revenues on the Consolidated Statements of Income based on estimates of usage and prices during the period. The estimates that management uses in this calculation could vary from the actual amounts to be paid by customers. | ||||||||||||||||||||||||||
SPP Purchases and Sales | ||||||||||||||||||||||||||
OG&E participates in the SPP energy imbalance service market in a dual role as a load serving entity and as a generation owner. The energy imbalance service market requires cash settlements for over or under schedules of generation and load. Market participants, including OG&E, are required to submit resource plans and can submit offer curves for each resource available for dispatch. A function of interchange accounting is to match participants' MWH entitlements (generation plus scheduled bilateral purchases) against their MWH obligations (load plus scheduled bilateral sales) during every hour of every day. If the net result during any given hour is an entitlement, the participant is credited with a spot-market sale to the SPP at the respective market price for that hour; if the net result is an obligation, the participant is charged with a spot-market purchase from the SPP at the respective market price for that hour. The SPP purchases and sales are not allocated to individual customers. OG&E records the hourly sales to the SPP at market rates in Operating Revenues and the hourly purchases from the SPP at market rates in Cost of Sales in its Consolidated Financial Statements. | ||||||||||||||||||||||||||
Fuel Adjustment Clauses | ||||||||||||||||||||||||||
Variances in the actual cost of fuel used in electric generation and certain purchased power costs, as compared to the fuel component included in the cost-of-service for ratemaking, are passed through to OG&E's customers through fuel adjustment clauses. The fuel adjustment clauses are subject to periodic review by the OCC, the APSC and the FERC. The OCC, the APSC and the FERC have authority to review the appropriateness of gas transportation charges or other fees OG&E pays to its affiliate, Enable. | ||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||
The Company files consolidated income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. Income taxes are generally allocated to each company in the affiliated group based on its stand-alone taxable income or loss. Federal investment tax credits previously claimed on electric utility property have been deferred and are being amortized to income over the life of the related property. The Company uses the asset and liability method of accounting for income taxes. Under this method, a deferred tax asset or liability is recognized for the estimated future tax effects attributable to temporary differences between the financial statement basis and the tax basis of assets and liabilities as well as tax credit carry forwards and net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period of the change. The Company recognizes interest related to unrecognized tax benefits in interest expense and recognizes penalties in other expense. | ||||||||||||||||||||||||||
Accrued Vacation | ||||||||||||||||||||||||||
The Company accrues vacation pay monthly by establishing a liability for vacation earned. Vacation may be taken as earned and is charged against the liability. At the end of each year, the liability represents the amount of vacation earned, but not taken. OGE employees can carryover no more than 80 hours to be used in future years. | ||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||
The following table summarizes changes in the components of accumulated other comprehensive loss attributable to OGE Energy during 2013. All amounts below are presented net of tax and noncontrolling interest. | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | Postretirement Benefit Plans | |||||||||||||||||||||||||
(In millions) | Net loss | Prior service cost | Net loss | Prior service cost | Deferred commodity contracts hedging gains | Deferred interest rate swap hedging losses | Less: Noncontrolling interest | Total | ||||||||||||||||||
Balance at December 31, 2012 | $ | (49.3 | ) | $ | 0.1 | $ | (15.7 | ) | $ | 7.2 | $ | 0.1 | $ | (0.5 | ) | $ | (9.0 | ) | $ | (49.1 | ) | |||||
Other comprehensive income before reclassifications | 12.4 | — | 6.9 | — | — | — | — | 19.3 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (A) | 6.7 | — | 2 | (1.8 | ) | 0.6 | 0.3 | 0.1 | 7.7 | |||||||||||||||||
Deconsolidation of Enogex Holdings | 2.8 | — | 1 | (0.3 | ) | (0.7 | ) | — | 8.9 | (6.1 | ) | |||||||||||||||
Net current period other comprehensive income (loss) | 21.9 | — | 9.9 | (2.1 | ) | (0.1 | ) | 0.3 | 9 | 20.9 | ||||||||||||||||
Balance at December 31, 2013 | $ | (27.4 | ) | $ | 0.1 | $ | (5.8 | ) | $ | 5.1 | $ | — | $ | (0.2 | ) | $ | — | $ | (28.2 | ) | ||||||
(A) | Includes $3.0 million of pension settlement charges. | |||||||||||||||||||||||||
The following table summarizes significant amounts reclassified out of accumulated other comprehensive loss by the respective line items in net income during the year ended December 31, 2013. | ||||||||||||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||||||||||||||||
Year Ended | ||||||||||||||||||||||||||
(In millions) | December 31, 2013 | |||||||||||||||||||||||||
Gains (losses) on cash flow hedges | ||||||||||||||||||||||||||
Commodity contracts | $ | (1.0 | ) | Cost of sales | ||||||||||||||||||||||
Interest rate swap | (0.4 | ) | Interest expense | |||||||||||||||||||||||
(1.4 | ) | Total before tax | ||||||||||||||||||||||||
(0.5 | ) | Tax benefit | ||||||||||||||||||||||||
$ | (0.9 | ) | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||||
Actuarial gains (losses) | $ | (6.1 | ) | (A) | ||||||||||||||||||||||
Settlement cost | (4.9 | ) | (A) | |||||||||||||||||||||||
(11.0 | ) | Total before tax | ||||||||||||||||||||||||
(4.3 | ) | Tax benefit | ||||||||||||||||||||||||
(6.7 | ) | Net of tax | ||||||||||||||||||||||||
(0.1 | ) | Noncontrolling interest | ||||||||||||||||||||||||
$ | (6.6 | ) | Net of tax and noncontrolling interest | |||||||||||||||||||||||
Amortization of postretirement benefit plan items | ||||||||||||||||||||||||||
Actuarial gains (losses) | $ | (3.3 | ) | (A) | ||||||||||||||||||||||
Prior service cost | 2.9 | (A) | ||||||||||||||||||||||||
(0.4 | ) | Total before tax | ||||||||||||||||||||||||
(0.2 | ) | Tax benefit | ||||||||||||||||||||||||
$ | (0.2 | ) | Net of tax | |||||||||||||||||||||||
Total reclassifications for the period | $ | (7.7 | ) | Net of tax and noncontrolling interest | ||||||||||||||||||||||
(A) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 13 for additional information). | |||||||||||||||||||||||||
The amounts in accumulated other comprehensive loss at December 31, 2013 that are expected to be recognized into earnings in 2014 are as follows: | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | (1.7 | ) | |||||||||||||||||||||||
Prior service cost | (0.1 | ) | ||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | (0.8 | ) | ||||||||||||||||||||||||
Prior service cost | 1.8 | |||||||||||||||||||||||||
Deferred commodity contracts hedging gains | — | |||||||||||||||||||||||||
Deferred interest rate swap hedging losses | (0.2 | ) | ||||||||||||||||||||||||
Total, net of tax | $ | (1.0 | ) | |||||||||||||||||||||||
Environmental Costs | ||||||||||||||||||||||||||
Accruals for environmental costs are recognized when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Costs are charged to expense or deferred as a regulatory asset based on expected recovery from customers in future rates, if they relate to the remediation of conditions caused by past operations or if they are not expected to mitigate or prevent contamination from future operations. Where environmental expenditures relate to facilities currently in use, such as pollution control equipment, the costs may be capitalized and depreciated over the future service periods. Estimated remediation costs are recorded at undiscounted amounts, independent of any insurance or rate recovery, based on prior experience, assessments and current technology. Accrued obligations are regularly adjusted as environmental assessments and estimates are revised, and remediation efforts proceed. For sites where OG&E has been designated as one of several potentially responsible parties, the amount accrued represents OG&E's estimated share of the cost. The Company had $6.2 million and $5.8 million in accrued environmental liabilities at December 31, 2013 and 2012, respectively, which are included in the summary of asset retirement obligations above. | ||||||||||||||||||||||||||
Forward Stock Split | ||||||||||||||||||||||||||
On May 16, 2013, the Company's Board of Directors approved a 2-for-1 forward stock split of the Company's common stock, effective July 1, 2013, which entitled each shareholder of record to receive two shares for every one share of Company stock owned by the shareholder. In connection with the stock split, an amendment to the Company's Articles of Incorporation was approved on May 16, 2013 which increased the number of authorized shares of common stock from 225 million to 450 million. All share and per share amounts presented within this Form 10-K reflect the effects of the stock split. | ||||||||||||||||||||||||||
Reclassifications | ||||||||||||||||||||||||||
As discussed in Note 14, the former natural gas transportation and storage segment and natural gas gathering and processing segment have been combined into the natural gas midstream operations segment and have been restated for all prior periods presented. Effective May 1, 2013, the Company deconsolidated its previously held investment in Enogex Holdings and acquired an equity interest in Enable. |
Accounting_Pronouncement_Notes
Accounting Pronouncement (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Pronouncement [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
Accounting Pronouncements | |
In July 2013, the Emerging Issues Task Force issued "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward or Tax Credit Carryforward Exists." The new standard requires entities to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the statement of financial position as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward, except as follows: to the extent that a net operating loss carryforward or tax credit carryforward at the reporting date is not available under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, the unrecognized tax benefit would be presented in the statement of financial position as a liability. The new standard is applicable for all entities that have unrecognized tax benefits when a net operating loss carryforward or a tax credit carryforward exists. The new standard is effective for interim and annual reporting periods beginning after December 15, 2013 and does not require any new financial statement disclosures. This new standard may be applied retrospectively or prospectively with early adoption permitted. The Company retrospectively adopted this new standard effective January 1, 2013. | |
In December 2011, the Financial Accounting Standards Board issued "Balance Sheet: Disclosures about Offsetting Assets and Liabilities." The new standard requires entities to disclose information about financial instruments and derivative instruments that are either offset on the balance sheet or are subject to a master netting arrangement, including providing both gross information and net information for recognized assets and liabilities, the net amounts presented on an entity's balance sheet and a description of the rights of setoff associated with these assets and liabilities. The new standard is applicable for all entities that have financial instruments and derivative instruments shown using a net presentation on an entity's balance sheet or are subject to a master netting arrangement. On January 31, 2013, the Financial Accounting Standards Board issued an update to this standard clarifying that the scope includes derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or are subject to a master netting arrangement or similar agreement. The new standard is effective for interim and annual reporting periods for fiscal years beginning on or after January 1, 2013 and is required to be applied retrospectively for all periods presented. The Company adopted this new standard effective January 1, 2013. | |
In February 2013, the Financial Accounting Standards Board issued "Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The new standard requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, the new standard requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items in net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The new standard is applicable for all entities that issue financial statements that are presented in conformity with U.S. GAAP and that report items of other comprehensive income. The new standard is effective for interim and annual reporting periods for fiscal years beginning after December 15, 2012 and is required to be applied prospectively. The Company adopted this new standard effective January 1, 2013. |
Investment_in_Unconsolidated_A
Investment in Unconsolidated Affiliate and Related Party Transactions (Notes) | 8 Months Ended | |||
Dec. 31, 2013 | ||||
Schedule of Equity Method Investments [Line Items] | ' | |||
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' | |||
Investment in Unconsolidated Affiliates and Related Party Transactions | ||||
On March 14, 2013, OGE Energy entered into a Master Formation Agreement with the ArcLight group and CenterPoint Energy, Inc., pursuant to which OGE Energy, the ArcLight Group and CenterPoint Energy, Inc., agreed to form Enable Midstream Partners to own and operate the midstream businesses of OGE Energy and CenterPoint that will initially be structured as a private limited partnership. This transaction closed on May 1, 2013. | ||||
Pursuant to the Master Formation Agreement, OGE Energy and the ArcLight group indirectly contributed 100 percent of the equity interests in Enogex LLC to Enable. The Company determined that its contribution of Enogex LLC to Enable met the requirements of being in substance real estate and was recorded at historical cost. Enogex LLC is a provider of integrated natural gas midstream services. Enogex LLC is engaged in the business of gathering, processing, transporting and storing natural gas. Most of Enogex LLC's natural gas gathering, processing, transportation and storage assets are strategically located in the Arkoma and Anadarko basins of Oklahoma and the Texas Panhandle. CenterPoint Energy Field Services, LLC, a Delaware limited liability company and, prior to the closing of the transaction on May 1, 2013, a wholly owned subsidiary of CenterPoint, that provides natural gas gathering and processing services for certain natural gas fields in the Mid-continent region of the United States, was converted into a Delaware limited partnership that became Enable Midstream Partners, LP. CenterPoint contributed to Enable its equity interests in each of (i) CenterPoint Energy Gas Transmission Company, LLC, a Delaware limited liability company that is an interstate pipeline that provides natural gas transportation, storage and pipeline services to customers principally in Arkansas, Louisiana, Oklahoma and Texas, (ii) MRT, a Delaware limited liability company that is an interstate pipeline that provides natural gas transportation, storage and pipeline services to customers principally in Arkansas, Illinois and Missouri and (iii) certain of its other midstream subsidiaries and caused its subsidiary CenterPoint Energy Southeastern Pipelines Holding, LLC to contribute a 24.95 percent interest in Southeast Supply Header, LLC, a Delaware limited liability company. CenterPoint indirectly owned a 50 percent interest in Southeast Supply Header, LLC, which owns a 1.0 billion cubic feet per day, 274-mile interstate pipeline that runs from the Perryville Hub in Louisiana to Coden, Alabama. | ||||
Immediately prior to closing, on May 1, 2013, the ArcLight group contributed $107.0 million and OGE Energy contributed $9.1 million to Enogex LLC in order to pay down short-term debt. At December 31, 2013, OGE Energy, through its wholly owned subsidiary OGE Holdings, holds 28.5 percent of the limited partner interests in Enable. | ||||
CenterPoint has certain put rights, and Enable has certain call rights, exercisable with respect to any interest in Southeast Supply Header, LLC retained by CenterPoint following the formation of Enable Midstream Partners, under which CenterPoint would contribute to Enable Midstream Partners CenterPoint's retained interest in Southeast Supply Header, LLC at a price equal to the fair market value of such interest at the time the put right or call right is exercised. If CenterPoint were to exercise such put right or Enable were to exercise such call right, CenterPoint's retained interest in Southeast Supply Header, LLC would be contributed to Enable in exchange for consideration consisting of a specified number of limited partnership units and, subject to certain restrictions, a cash payment, payable either from CenterPoint to Enable or from Enable to CenterPoint, in an amount such that the total consideration exchanged is equal in value to the fair market value of the contributed interest in Southeast Supply Header, LLC. | ||||
The general partner of Enable is equally controlled by CenterPoint and OGE Energy, who each have 50 percent of the management rights. CenterPoint and OGE Energy also own a 40 percent and 60 percent interest, respectively, in any incentive distribution rights to be held by the general partner of Enable following an initial public offering of Enable. In addition, for a period of time, the ArcLight group will have certain protective rights and approval rights over certain material activities of Enable, including material increases in capital expenditures and certain equity issuances, entering into transactions with related parties and acquiring, pledging or disposing of certain material assets. The general partner of Enable will initially be governed by a board made up of an equal number of representatives designated by each of CenterPoint Energy, Inc. and OGE Energy. Based on the 50/50 management ownership, with neither company having control, effective May 1, 2013, OGE Energy deconsolidated its interest in Enogex Holdings LLC and began accounting for its interest in Enable using the equity method of accounting. | ||||
Pursuant to a Registration Rights Agreement dated as of May 1, 2013, OGE Energy and CenterPoint Energy, Inc. agreed to initiate the process for the sale of an equity interest in Enable in an initial public offering. Enable filed a registration statement for the initial public offering on November 26, 2013 and, subject to limited exceptions, plans to consummate the initial public offering during the first quarter of 2014. The initial public offering is subject to market conditions and OGE Energy can give no assurances that the initial public offering will be consummated. | ||||
Effective May 1, 2013, Enable entered into a $1.4 billion, five-year senior unsecured revolving credit facility in accordance with the terms of the Master Formation Agreement and Enogex LLC's $400.0 million revolving credit facility was terminated. | ||||
Subject to the exceptions provided below, pursuant to the terms of an Omnibus Agreement dated as of May 1, 2013 among OGE Energy, the ArcLight group and CenterPoint Energy, Inc., each of OGE Energy and CenterPoint Energy, Inc. will be required to hold or otherwise conduct all of its respective Midstream Operations (as defined below) located within the United States in Enable. This restriction will cease to apply to both OGE Energy and CenterPoint Energy, Inc. as soon as either OGE Energy or CenterPoint Energy, Inc. ceases to hold (i) any interest in the general partner of Enable or (ii) at least 20 percent of the limited partner interests of Enable. "Midstream Operations" generally means, subject to certain exceptions, the gathering, compression, treatment, processing, blending, transportation, storage, isomerization and fractionation of crude oil and natural gas, its associated production water and enhanced recovery materials such as carbon dioxide, and its respective constituents and the following products: methane, NGLs (Y-grade, ethane, propane, normal butane, isobutane and natural gasoline), condensate, and refined products and distillates (gasoline, refined product blendstocks, olefins, naphtha, aviation fuels, diesel, heating oil, kerosene, jet fuels, fuel oil, residual fuel oil, heavy oil, bunker fuel, cokes, and asphalts), to the extent such activities are located within the United States. | ||||
In addition, if OGE Energy or CenterPoint Energy, Inc. acquires any assets or equity of any person engaged in Midstream Operations with a value in excess of $50 million (or $100 million in the aggregate with such party's other acquired Midstream Operations that have not been offered to Enable), the acquiring party will be required to offer Enable the opportunity to acquire such assets or equity for such value; provided, that the acquiring party will not be obligated to offer any such assets or equity to Enable if the acquiring party intends to cease using them in Midstream Operations within 12 months. If Enable does not exercise its option, then the acquiring party will be free to retain and operate such Midstream Operations; provided, however, that if the fair market value of such Midstream Operations is greater than 66 2/3 percent of the fair market value of all of the assets being acquired in such transaction, then the acquiring party will be required to dispose of such Midstream Operations within 24 months. | ||||
As long as the ArcLight group has certain protective rights, the ArcLight group will be prohibited from pursuing any transaction independently from Enable (i) if the ArcLight group's consent is required for Enable to pursue such transaction and (ii) the ArcLight group affirmatively votes not to consent to such transaction. | ||||
On May 1, 2013, OGE Energy, OGE Holdings and Enable entered into a Seconding Agreement. During the term of the Seconding Agreement, OGE Holdings' employees will continue to perform services for Enable and its subsidiaries. | ||||
Distributions received from Enable were $51.7 million during the year ended December 31, 2013. | ||||
Related Party Transactions | ||||
As OGE Energy's interest in Enogex Holdings was deconsolidated on May 1, 2013, operating costs charged and related party transactions between the Company and its affiliate, Enable, after May 1, 2013, which were previously eliminated in consolidation, are discussed below. | ||||
OGE Energy charged operating costs to Enogex Holdings/Enable of $17.8 million during 2013. OGE Energy charges operating costs to its subsidiaries and unconsolidated affiliate based on several factors. Operating costs directly related to specific subsidiaries or unconsolidated affiliate are assigned to those subsidiaries or unconsolidated affiliate. Where more than one subsidiary or unconsolidated affiliate benefits from certain expenditures, the costs are shared between those subsidiaries and unconsolidated affiliate receiving the benefits. Operating costs incurred for the benefit of all subsidiaries and unconsolidated affiliate are allocated among the subsidiaries and unconsolidated affiliate, either as overhead based primarily on labor costs or using the "Distrigas" method. The Distrigas method is a three-factor formula that uses an equal weighting of payroll, net operating revenues and gross property, plant and equipment. OGE Energy adopted the Distrigas method in January 1996 as a result of a recommendation by the OCC Staff. OGE Energy believes this method provides a reasonable basis for allocating common expenses. | ||||
Related Party Transactions with Enable | ||||
Eight Months Ended | ||||
(In millions) | December 31, 2013 | |||
Operating Revenues: | ||||
Electricity to power electric compression assets | $ | 7.7 | ||
Cost of Sales: | ||||
Natural gas transportation services | $ | 23.2 | ||
Natural gas storage services | 8.6 | |||
Natural gas purchases | 14.8 | |||
Summarized Financial Information of Enable | ||||
As Enable began operations on May 1, 2013, summarized unaudited financial information for 100 percent of Enable is presented below at December 31, 2013 and for the eight months ended December 31, 2013. | ||||
Balance Sheet | December 31, 2013 | |||
(In millions) | ||||
Current assets | $ | 549 | ||
Non-current assets | 10,683 | |||
Current liabilities | 720 | |||
Non-current liabilities | 2,331 | |||
Eight Months Ended | ||||
Income Statement | 31-Dec-13 | |||
(In millions) | ||||
Operating revenues | $ | 2,122.60 | ||
Cost of sales | 1,240.50 | |||
Operating income | 321.9 | |||
Net income | 288.6 | |||
Enable concluded that the formation of Enable was considered a business combination, and CenterPoint Midstream was the acquirer of Enogex Holdings for accounting purposes. Under this method, the fair value of the consideration paid by CenterPoint Midstream for Enogex Holdings is allocated to the assets acquired and liabilities assumed on May 1, 2013 based on their fair value. Enogex Holdings' assets, liabilities and equity have accordingly been adjusted to estimated fair value as of May 1, 2013, resulting in an increase to equity of $2.2 billion. Determining the fair value of certain assets and liabilities assumed is judgmental in nature and often involves the use of significant estimates and assumptions. Enable utilized appraisers to assist in the determination of fair value of certain assets. | ||||
OGE Energy recorded equity in earnings of unconsolidated affiliates of $101.9 million for the eight months ended December 31, 2013. Equity in earnings of unconsolidated affiliates includes OGE Energy's 28.5 percent share of Enable earnings adjusted for the amortization of the basis difference of OGE Energy's original investment in Enogex and its underlying equity in net assets of Enable, based on historical cost as of May 1, 2013. The basis difference is being amortized over approximately 30 years, the average life of the assets to which the basis difference is attributed. Equity in earnings of unconsolidated affiliates is also adjusted for the elimination of the Enogex Holdings fair value adjustments described above. | ||||
Eight Months Ended | ||||
Reconciliation of Equity in Earnings of Unconsolidated Affiliates | 31-Dec-13 | |||
(In millions) | ||||
OGE's 28.5% share of Enable Net Income | $ | 82.1 | ||
Amortization of basis difference | 9.4 | |||
Elimination of Enogex Holdings fair value and other adjustments | 10.4 | |||
OGE's Equity in earnings of unconsolidated affiliates | $ | 101.9 | ||
Impairment_of_Assets
Impairment of Assets | 12 Months Ended |
Dec. 31, 2013 | |
Impairment of Assets [Abstract] | ' |
Asset Impairment Charges [Text Block] | ' |
Impairment of Assets | |
In August 2011, Enogex recorded a pre-tax impairment loss related to its Atoka joint venture which operated a 20 MMcf/d refrigeration processing plant which processed gas gathered in the Atoka, OK area. The processing plant was leased on a month-to-month basis. In August 2011, management made a decision to use third-party processing exclusively for gathered volumes dedicated to Atoka and, therefore, to take the processing plant out of service and return it to the lessor in accordance with the rental agreement. As a result Enogex recorded a pre-tax impairment loss of $5.0 million associated with the cost it had capitalized in connection with the installation of the leased plant as those costs were determined to be not recoverable through future cash flows. The noncontrolling interest portion of the pre-tax impairment loss was $2.5 million which was included in Net Income Attributable to Noncontrolling Interests in the Company's Consolidated Statement of Income. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
Fair Value Measurements | |||||||||||||
The classification of the Company's fair value measurements requires judgment regarding the degree to which market data are observable or corroborated by observable market data. GAAP establishes a fair value hierarchy that prioritizes the inputs used to measure fair value based on observable and unobservable data. The hierarchy categorizes the inputs into three levels, with the highest priority given to quoted prices in active markets for identical unrestricted assets or liabilities (Level 1) and the lowest priority given to unobservable inputs (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three levels defined in the fair value hierarchy and examples of each are as follows: | |||||||||||||
Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible at the measurement date. Instruments classified as Level 1 include natural gas futures, swaps and options transactions for contracts traded on the NYMEX and settled through a NYMEX clearing broker. | |||||||||||||
Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Instruments classified as Level 2 include over-the-counter NYMEX natural gas swaps, natural gas basis swaps and natural gas purchase and sales transactions in markets such that the pricing is closely related to the NYMEX pricing. | |||||||||||||
Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). | |||||||||||||
The Company utilizes the market approach in determining the fair value of its derivative positions by using either NYMEX published market prices, independent broker pricing data or broker/dealer valuations. The valuations of derivatives with pricing based on NYMEX published market prices may be considered Level 1 if they are settled through a NYMEX clearing broker account with daily margining. Over-the-counter derivatives with NYMEX based prices are considered Level 2 due to the impact of counterparty credit risk. Valuations based on independent broker pricing or broker/dealer valuations may be classified as Level 2 only to the extent they may be validated by an additional source of independent market data for an identical or closely related active market. In certain less liquid markets or for longer-term contracts, forward prices are not as readily available. In these circumstances, contracts are valued using internally developed methodologies that consider historical relationships among various quoted prices in active markets that result in management's best estimate of fair value. These contracts are classified as Level 3. | |||||||||||||
The impact to the fair value of derivatives due to credit risk is calculated using the probability of default based on Standard & Poor's Ratings Services and/or internally generated ratings. The fair value of derivative assets is adjusted for credit risk. The fair value of derivative liabilities is adjusted for credit risk only if the impact is deemed material. | |||||||||||||
Contracts with Master Netting Arrangements | |||||||||||||
Fair value amounts recognized for forward, interest rate swap, option and other conditional or exchange contracts executed with the same counterparty under a master netting arrangement may be offset. The reporting entity's choice to offset or not must be applied consistently. A master netting arrangement exists if the reporting entity has multiple contracts, whether for the same type of conditional or exchange contract or for different types of contracts, with a single counterparty that are subject to a contractual agreement that provides for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract. Offsetting the fair values recognized for forward, interest rate swap, option and other conditional or exchange contracts outstanding with a single counterparty results in the net fair value of the transactions being reported as an asset or a liability in the Consolidated Balance Sheets. The Company has presented the fair values of its derivative contracts under master netting agreements using a net fair value presentation. | |||||||||||||
The Company had no financial instruments measured at fair value on a recurring basis at December 31, 2013. The following table summarizes the Company's assets and liabilities that are measured at fair value on a recurring basis at December 31, 2012 as well as presents the Company's commodity contracts fair value to PRM Assets and Liabilities on the Company's Consolidated Balance Sheet at December 31, 2012. There were no Level 3 investments held at December 31, 2012. | |||||||||||||
December 31, 2012 | |||||||||||||
(In millions) | Commodity Contracts | Gas Imbalances (A) | |||||||||||
Assets | Liabilities | Assets (B) | Liabilities (C) | ||||||||||
Quoted market prices in active market for identical assets (Level 1) | $ | 5 | $ | 5 | $ | — | $ | — | |||||
Significant other observable inputs (Level 2) | 0.5 | 0.5 | 3.1 | 3.8 | |||||||||
Total fair value | 5.5 | 5.5 | 3.1 | 3.8 | |||||||||
Netting adjustments | (5.0 | ) | (5.2 | ) | — | — | |||||||
Total | $ | 0.5 | $ | 0.3 | $ | 3.1 | $ | 3.8 | |||||
(A) | The Company uses the market approach to fair value its gas imbalance assets and liabilities, using an average of the Inside FERC Gas Market Report for Panhandle Eastern Pipe Line Co. (Texas, Oklahoma Mainline), ONEOK (Oklahoma) and ANR Pipeline (Oklahoma) indices. | ||||||||||||
(B) | Gas imbalance assets exclude fuel reserves for under retained fuel due from shippers of $5.9 million at December 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. | ||||||||||||
(C) | Gas imbalance liabilities exclude fuel reserves for over retained fuel due to shippers of $1.2 million at December 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. | ||||||||||||
The following table summarizes the fair value and carrying amount of the Company's financial instruments at December 31, 2013 and December 31, 2012. | |||||||||||||
2013 | 2012 | ||||||||||||
December 31 (In millions) | Carrying Amount | Fair | Carrying Amount | Fair | |||||||||
Value | Value | ||||||||||||
Long-Term Debt | |||||||||||||
OG&E Senior Notes | $ | 2,154.50 | $ | 2,405.00 | $ | 1,904.20 | $ | 2,401.60 | |||||
OG&E Industrial Authority Bonds | 135.4 | 135.4 | 135.4 | 135.4 | |||||||||
OG&E Tinker Debt | 10.3 | 9.1 | 10.7 | 10 | |||||||||
OGE Energy Senior Notes | 99.9 | 103.1 | 99.9 | 106.3 | |||||||||
Enogex LLC Senior Notes | (A) | (A) | 448.4 | 493.4 | |||||||||
Enogex LLC Term Loan | (A) | (A) | 250 | 250 | |||||||||
(A) | As a result of the formation of Enable on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company's consolidated financial statements do not include any obligations for the Enogex LLC Senior Notes and Enogex LLC Term Loan as of May 1, 2013. | ||||||||||||
The carrying value of the financial instruments included in the Consolidated Balance Sheets approximates fair value except for long-term debt which is valued at the carrying amount. The fair value of the Company's long-term debt is based on quoted market prices and estimates of current rates available for similar issues with similar maturities and is classified as Level 2 in the fair value hierarchy. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||
Derivative Instruments and Hedging Activities | ' | |||||||||
Derivative Instruments and Hedging Activities | ||||||||||
The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed using derivatives instruments is interest rate risk. The Company is also exposed to credit risk in its business operations. | ||||||||||
Interest Rate Risk | ||||||||||
The Company's exposure to changes in interest rates primarily relates to short-term variable-rate debt and commercial paper. The Company manages its interest rate exposure by monitoring and limiting the effects of market changes in interest rates. The Company may utilize interest rate derivatives to alter interest rate exposure in an attempt to reduce the effects of these changes. Interest rate derivatives are used solely to modify interest rate exposure and not to modify the overall leverage of the debt portfolio. | ||||||||||
Credit Risk | ||||||||||
The Company is exposed to certain credit risks relating to its ongoing business operations. Credit risk includes the risk that counterparties that owe the Company money or energy will breach their obligations. If the counterparties to these arrangements fail to perform, the Company may be forced to enter into alternative arrangements. In that event, the Company's financial results could be adversely affected and the Company could incur losses. | ||||||||||
Cash Flow Hedges | ||||||||||
For derivatives that are designated and qualify as a cash flow hedge, the effective portion of the change in fair value of the derivative instrument is reported as a component of Accumulated Other Comprehensive Income (Loss) and recognized into earnings in the same period during which the hedged transaction affects earnings. The ineffective portion of a derivative's change in fair value or hedge components excluded from the assessment of effectiveness is recognized currently in earnings. The Company measures the ineffectiveness of commodity cash flow hedges using the change in fair value method whereby the change in the expected future cash flows designated as the hedge transaction are compared to the change in fair value of the hedging instrument. Forecasted transactions, which are designated as the hedged transaction in a cash flow hedge, are regularly evaluated to assess whether they continue to be probable of occurring. If the forecasted transactions are no longer probable of occurring, hedge accounting will cease on a prospective basis and all future changes in the fair value of the derivative will be recognized directly in earnings. | ||||||||||
The Company previously designated as cash flow hedges derivatives used to manage commodity price risk exposure for OGE Holdings's NGLs volumes and corresponding keep-whole natural gas resulting from its natural gas processing contracts (processing hedges) and natural gas positions resulting from its natural gas gathering and processing operations and natural gas transportation and storage operations (operational gas hedges). The Company also previously designated as cash flow hedges certain derivatives used to manage natural gas commodity exposure for certain natural gas storage inventory positions. Due to the deconsolidation effective May 1, 2013, the Company had no instruments designated as cash flow hedges at December 31, 2013. | ||||||||||
Fair Value Hedges | ||||||||||
For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedge risk are recognized currently in earnings. The Company includes the gain or loss on the hedged items in Operating Revenues as the offsetting loss or gain on the related hedging derivative. | ||||||||||
At December 31, 2013 and 2012, the Company had no derivative instruments that were designated as fair value hedges. | ||||||||||
Derivatives Not Designated As Hedging Instruments | ||||||||||
Derivative instruments not designated as hedging instruments were utilized in OGE Holdings' asset management activities and were reflected in consolidated results prior to the deconsolidation of Enogex on May 1, 2013. For derivative instruments not designated as hedging instruments, the gain or loss on the derivative is recognized in the period in which it occurred. | ||||||||||
Quantitative Disclosures Related to Derivative Instruments | ||||||||||
At December 31, 2013, the Company has no derivative instruments that were designated as cash flow hedges. | ||||||||||
At December 31, 2012, the Company had the following derivative instruments that were designated as cash flow hedges. | ||||||||||
(In millions) | 2012 Gross Notional Volume (A) | |||||||||
Enogex hedges | ||||||||||
Natural gas sales | 3.7 | |||||||||
(A) | Natural gas in MMBtu's. | |||||||||
At December 31, 2012, the Company had the following derivative instruments that were not designated as hedging instruments. | ||||||||||
(In millions) | Gross Notional Volume (A) | |||||||||
Purchases | Sales | |||||||||
Natural gas (B) | ||||||||||
Physical (C)(D) | 7 | 30.1 | ||||||||
Fixed Swaps/Futures | 16.2 | 17.9 | ||||||||
Basis Swaps | 7.3 | 6.7 | ||||||||
(A) | Natural gas in MMBtu's. | |||||||||
(B) | 95.1 percent of the natural gas contracts have durations of one year or less, 2.9 percent have durations of more than one year and less than two years and 2.0 percent have durations of more than two years. | |||||||||
(C) | Of the natural gas physical purchases and sales volumes not designated as hedges, the majority are priced based on a monthly or daily index and the fair value is subject to little or no market price risk. | |||||||||
(D) | Natural gas physical sales volumes exceed natural gas physical purchase volumes due to the marketing of natural gas volumes purchased via Enogex's processing contracts, which are not derivative instruments and are excluded from the table above. | |||||||||
Balance Sheet Presentation Related to Derivative Instruments | ||||||||||
The Company had no derivative instruments included in its Consolidated Balance Sheet at December 31, 2013. The fair value of the derivative instruments that are presented in the Company's Consolidated Balance Sheet at December 31, 2012 are as follows: | ||||||||||
Fair Value | ||||||||||
Instrument | Balance Sheet Location | Assets | Liabilities | |||||||
(In millions) | ||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||
Natural Gas | ||||||||||
Financial Futures/Swaps | Other Current Assets | $ | — | $ | 0.5 | |||||
Total | $ | — | $ | 0.5 | ||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||
Natural Gas | ||||||||||
Financial Futures/Swaps | Current PRM | $ | 0.1 | $ | — | |||||
Other Current Assets | 5 | 4.7 | ||||||||
Physical Purchases/Sales | Current PRM | 0.4 | 0.3 | |||||||
Total | $ | 5.5 | $ | 5 | ||||||
Total Gross Derivatives (A) | $ | 5.5 | $ | 5.5 | ||||||
(A) | See Note 5 for a reconciliation of the Company's total derivatives fair value to the Company's Consolidated Balance Sheet at December 31, 2012. | |||||||||
Income Statement Presentation Related to Derivative Instruments | ||||||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2013. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
Natural Gas Financial Futures/Swaps | $ | (0.2 | ) | $ | 5.2 | $ | — | |||
Interest Rate Swap | — | (0.2 | ) | — | ||||||
Total | $ | (0.2 | ) | $ | 5 | $ | — | |||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (6.1 | ) | |||||||
Natural Gas Financial Futures/Swaps | 1 | |||||||||
Total | $ | (5.1 | ) | |||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2012. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
Natural Gas Financial Futures/Swaps | 0.5 | 5.2 | — | |||||||
Interest Rate Swap | — | (0.4 | ) | — | ||||||
Total | $ | 0.5 | $ | 4.8 | $ | — | ||||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (11.7 | ) | |||||||
Natural Gas Financial Futures/Swaps | 1.1 | |||||||||
Total | $ | (10.6 | ) | |||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2011. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
NGLs Financial Options | $ | (8.4 | ) | $ | (9.8 | ) | $ | — | ||
Natural Gas Financial Futures/Swaps | 2.9 | (30.4 | ) | — | ||||||
Interest Rate Swap | — | (0.4 | ) | — | ||||||
Total | $ | (5.5 | ) | $ | (40.6 | ) | $ | — | ||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (10.0 | ) | |||||||
Natural Gas Financial Futures/Swaps | 0.4 | |||||||||
Total | $ | (9.6 | ) | |||||||
For derivatives designated as cash flow hedges in the tables above, amounts reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion) and amounts recognized in income (ineffective portion) for the years ended December 31, 2012 and 2011, if any, are reported in Operating Revenues. For derivatives not designated as hedges in the tables above, amounts recognized in income for the years ended December 31, 2012 and 2011, if any, are reported in Operating Revenues. | ||||||||||
Credit-Risk Related Contingent Features in Derivative Instruments | ||||||||||
At December 31, 2013, the Company had no derivative instruments that contain credit-risk related contingent features. In the event Moody's Investors Services or Standard & Poor's Ratings Services were to lower the Company's senior unsecured debt rating to a below investment grade rating, at December 31, 2012, the Company would have been required to post $0.2 million of cash collateral to satisfy its obligation under its financial and physical contracts relating to derivative instruments that were in a net liability position at December 31, 2012. | ||||||||||
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||
In 2013, the Company adopted, and its shareowners approved, the 2013 Stock Incentive Plan. The 2013 Plan replaced the 2008 Plan and no further awards will be granted under the 2008 Plan. Under the 2013 Stock Incentive Plan, restricted stock, restricted stock units, stock options, stock appreciation rights and performance units may be granted to officers, directors and other key employees of the Company and its subsidiaries. The Company has authorized the issuance of up to 7,400,000 shares under the 2013 Stock Incentive Plan. | ||||||||||||||||||
The following table summarizes the Company's pre-tax compensation expense and related income tax benefit for the years ended December 31, 2013, 2012 and 2011 related to the Company's performance units and restricted stock. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.4 | $ | 8 | $ | 8.2 | ||||||||||||
Earnings per share | 2.3 | 4.2 | 5.5 | |||||||||||||||
Total performance units | 10.7 | 12.2 | 13.7 | |||||||||||||||
Restricted stock | 0.4 | 0.6 | 1 | |||||||||||||||
Total compensation expense | 11.1 | 12.8 | 14.7 | |||||||||||||||
Less: Amount paid by unconsolidated affiliates | 3.1 | — | — | |||||||||||||||
Net compensation expense | $ | 8 | $ | 12.8 | $ | 14.7 | ||||||||||||
Income tax benefit | $ | 3.1 | $ | 4.9 | $ | 5.7 | ||||||||||||
The Company has issued new shares to satisfy stock option exercises, restricted stock grants and payouts of earned performance units. In 2013, 2012 and 2011, there were 548,344 shares, 849,110 shares and 623,246 shares, respectively, of new common stock issued pursuant to the Company's stock incentive plans related to exercised stock options, restricted stock grants (net of forfeitures) and payouts of earned performance units. In 2013, there were 11,318 shares of restricted stock returned to the Company to satisfy tax liabilities. | ||||||||||||||||||
Performance Units | ||||||||||||||||||
Under the 2008 Stock Incentive Plan, the Company has issued performance units which represent the value of one share of the Company's common stock. The performance units provide for accelerated vesting if there is a change in control (as defined in the 2008 Stock Incentive Plan). Each performance unit is subject to forfeiture if the recipient terminates employment with the Company or a subsidiary prior to the end of the three-year award cycle for any reason other than death, disability or retirement. In the event of death, disability or retirement, a participant will receive a prorated payment based on such participant's number of full months of service during the award cycle, further adjusted based on the achievement of the performance goals during the award cycle. | ||||||||||||||||||
The performance units granted based on total shareholder return are contingently awarded and will be payable in shares of the Company's common stock subject to the condition that the number of performance units, if any, earned by the employees upon the expiration of a three-year award cycle (i.e., three-year cliff vesting period) is dependent on the Company's total shareholder return ranking relative to a peer group of companies. The performance units granted based on earnings per share are contingently awarded and will be payable in shares of the Company's common stock based on the Company's earnings per share growth over a three-year award cycle (i.e., three-year cliff vesting period) compared to a target set at the time of the grant by the Compensation Committee of the Company's Board of Directors. All of these performance units are classified as equity in the Consolidated Balance Sheet. If there is no or only a partial payout for the performance units at the end of the award cycle, the unearned performance units are cancelled. Payout requires approval of the Compensation Committee of the Company's Board of Directors. Payouts, if any, are all made in common stock and are considered made when the payout is approved by the Compensation Committee. | ||||||||||||||||||
As a result of the formation of Enable on May 1, 2013, 2013 performance unit grants to OGE Holdings' employees that were previously based on earnings before interest, taxes, depreciation and amortization were converted to performance units based on total shareholder return or earnings per share. Total 2013 performance unit grants converted were 91,390, comprised of 45,596 total shareholder return performance units with a $25.89 grant date fair value and 45,794 earnings per share performance units with a $26.73 grant date fair value. As a result of a modification to the 2012 performance unit grants, 2012 performance unit grants to OGE Holdings' employees that were previously based on earnings before interest, taxes and depreciation and amortization were converted to performance units based on total shareholder return or earnings per share. Total 2012 performance unit grants converted were 82,930, comprised of 41,554 total shareholder return performance units with a $47.71 grant date fair value and 41,376 earnings per share performance units with a $34.94 grant date fair value. The amount of these performance units were adjusted for the effects of the stock split. The impact of the modification of the performance unit grants on stock-based compensation expense for 2013 was not material. | ||||||||||||||||||
Performance Units – Total Shareholder Return | ||||||||||||||||||
The fair value of the performance units based on total shareholder return was estimated on the grant date using a lattice-based valuation model that factors in information, including the expected dividend yield, expected price volatility, risk-free interest rate and the probable outcome of the market condition, over the expected life of the performance units. Compensation expense for the performance units is a fixed amount determined at the grant date fair value and is recognized over the three-year award cycle regardless of whether performance units are awarded at the end of the award cycle. Dividends are not accrued or paid during the performance period and, therefore, are not included in the fair value calculation. Expected price volatility is based on the historical volatility of the Company's common stock for the past three years and was simulated using the Geometric Brownian Motion process. The risk-free interest rate for the performance unit grants is based on the three-year U.S. Treasury yield curve in effect at the time of the grant. The expected life of the units is based on the non-vested period since inception of the award cycle. There are no post-vesting restrictions related to the Company's performance units based on total shareholder return. The number of performance units granted based on total shareholder return and the assumptions used to calculate the grant date fair value of the performance units based on total shareholder return are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Number of units granted | 316,162 | 338,678 | 427,442 | |||||||||||||||
Fair value of units granted | $ | 25.89 | $ | 25.91 | $ | 23.05 | ||||||||||||
Expected dividend yield | 2.8 | % | 3 | % | 3.2 | % | ||||||||||||
Expected price volatility | 20 | % | 22 | % | 33 | % | ||||||||||||
Risk-free interest rate | 0.37 | % | 0.38 | % | 1.4 | % | ||||||||||||
Expected life of units (in years) | 2.84 | 2.87 | 2.87 | |||||||||||||||
Performance Units – Earnings Per Share | ||||||||||||||||||
The fair value of the performance units based on earnings per share is based on grant date fair value which is equivalent to the price of one share of the Company's common stock on the date of grant. The fair value of performance units based on earnings per share varies as the number of performance units that will vest is based on the grant date fair value of the units and the probable outcome of the performance condition. The Company reassesses at each reporting date whether achievement of the performance condition is probable and accrues compensation expense if and when achievement of the performance condition is probable. As a result, the compensation expense recognized for these performance units can vary from period to period. There are no post-vesting restrictions related to the Company's performance units based on earnings per share. The number of performance units granted based on earnings per share and the grant date fair value are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Number of units granted | 74,570 | 81,594 | 142,476 | |||||||||||||||
Fair value of units granted | $ | 26.73 | $ | 23.82 | $ | 20.81 | ||||||||||||
Restricted Stock | ||||||||||||||||||
Under the 2008 Stock Incentive Plan and beginning in 2008, the Company issued restricted stock to certain existing non-officer employees as well as other executives upon hire to attract and retain individuals to be competitive in the marketplace. The restricted stock vests in one-third annual increments. Prior to vesting, each share of restricted stock is subject to forfeiture if the recipient ceases to render substantial services to the Company or a subsidiary for any reason other than death, disability or retirement. These shares may not be sold, assigned, transferred or pledged and are subject to a risk of forfeiture. | ||||||||||||||||||
The fair value of the restricted stock was based on the closing market price of the Company's common stock on the grant date. Compensation expense for the restricted stock is a fixed amount determined at the grant date fair value and is recognized as services are rendered by employees over a three-year vesting period. Also, the Company treats its restricted stock as multiple separate awards by recording compensation expense separately for each tranche whereby a substantial portion of the expense is recognized in the earlier years in the requisite service period. Dividends are accrued and paid during the vesting period and, therefore, are included in the fair value calculation. The expected life of the restricted stock is based on the non-vested period since inception of the three-year award cycle. There are no post-vesting restrictions related to the Company's restricted stock. The number of shares of restricted stock granted and the grant date fair value are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Shares of restricted stock granted | 5,940 | 10,824 | 35,804 | |||||||||||||||
Fair value of restricted stock granted | $ | 29.71 | $ | 26.72 | $ | 24.41 | ||||||||||||
A summary of the activity for the Company's performance units and restricted stock at December 31, 2013 and changes in 2013 are shown in the following table. | ||||||||||||||||||
Performance Units | ||||||||||||||||||
Total Shareholder Return | Earnings Per Share | Restricted Stock | ||||||||||||||||
(dollars in millions) | Number | Aggregate Intrinsic Value | Number | Aggregate Intrinsic Value | Number | Aggregate Intrinsic Value | ||||||||||||
of Units | of Units | of Shares | ||||||||||||||||
Units/Shares Outstanding at 12/31/12 | 1,069,128 | 327,838 | 49,106 | |||||||||||||||
Granted | 316,162 | (A) | 74,570 | (A) | 5,940 | |||||||||||||
Modification | 87,150 | (B) | 87,170 | (B) | N/A | |||||||||||||
Converted | (377,266 | ) | (C) | $ | 22.1 | (125,760 | ) | (C) | $ | 7.4 | N/A | |||||||
Vested | N/A | N/A | (30,242 | ) | $ | 0.9 | ||||||||||||
Forfeited | (33,114 | ) | (9,792 | ) | (1,176 | ) | ||||||||||||
Units/Shares Outstanding at 12/31/13 | 1,062,060 | $ | 50.9 | 354,026 | $ | 13.9 | 23,628 | $ | 0.8 | |||||||||
Units/Shares Fully Vested at 12/31/13 | 355,078 | $ | 19.3 | 118,350 | $ | 8 | ||||||||||||
(A) | For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from 0 percent to 200 percent of the target. | |||||||||||||||||
(B) | These amounts represent the performance unit grants previously based on earnings before interest, taxes, depreciation and amortization that were converted to performance units based on total shareholder return or earnings per share as a result of the formation of Enable. | |||||||||||||||||
(C) | These amounts represent performance units that vested at December 31, 2012 which were settled in February 2013. | |||||||||||||||||
A summary of the activity for the Company's non-vested performance units and restricted stock at December 31, 2013 and changes in 2013 are shown in the following table. | ||||||||||||||||||
Performance Units | ||||||||||||||||||
Total Shareholder Return | Earnings Per Share | Restricted Stock | ||||||||||||||||
Number | Weighted-Average | Number | Weighted-Average | Number | Weighted-Average | |||||||||||||
of Units | Grant Date | of Units | Grant Date | of Shares | Grant Date | |||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||
Units/Shares Non-Vested at 12/31/12 | 691,862 | $ | 24.4 | 202,078 | $ | 22 | 49,106 | $ | 23.61 | |||||||||
Granted | 316,162 | (A) | $ | 25.89 | 74,570 | (A) | $ | 26.73 | 5,940 | $ | 29.71 | |||||||
Modification | 87,150 | (B) | $ | 36.29 | 87,170 | (B) | $ | 30.62 | N/A | N/A | ||||||||
Vested | (355,078 | ) | $ | 23.05 | (118,350 | ) | $ | 20.81 | (30,242 | ) | $ | 22.57 | ||||||
Forfeited | (33,114 | ) | $ | 24.96 | (9,792 | ) | $ | 23.34 | (1,176 | ) | $ | 26.87 | ||||||
Units/Shares Non-Vested at 12/31/13 | 706,982 | $ | 25.9 | 235,676 | $ | 25.28 | 23,628 | $ | 26.3 | |||||||||
Units/Shares Expected to Vest | 633,808 | (C) | 209,938 | (C) | 23,628 | |||||||||||||
(A) | For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from 0 percent to 200 percent of the target. | |||||||||||||||||
(B) | These amounts represent the performance unit grants previously based on earnings before interest, taxes, depreciation and amortization that were converted to performance units based on total shareholder return or earnings per share as a result of the formation of Enable. | |||||||||||||||||
(C) | The intrinsic value of the performance units based on total shareholder return and earnings per share is $28.3 million and $5.6 million, respectively. | |||||||||||||||||
Fair Value of Vested Performance Units and Restricted Stock | ||||||||||||||||||
A summary of the Company's fair value for its vested performance units and restricted stock is shown in the following table. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.2 | $ | 7.4 | $ | 7.4 | ||||||||||||
Earnings per share | 4.9 | 4.1 | 3.9 | |||||||||||||||
Restricted stock | 0.7 | 0.7 | 1 | |||||||||||||||
Unrecognized Compensation Cost | ||||||||||||||||||
A summary of the Company's unrecognized compensation cost for its non-vested performance units and restricted stock and the weighted-average periods over which the compensation cost is expected to be recognized are shown in the following table. | ||||||||||||||||||
December 31, 2013 | Unrecognized Compensation Cost (in millions) | Weighted Average to be Recognized (in years) | ||||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.4 | 1.63 | |||||||||||||||
Earnings per share | 1.8 | 1.49 | ||||||||||||||||
Total performance units | 10.2 | |||||||||||||||||
Restricted stock | 0.2 | 1.63 | ||||||||||||||||
Total | $ | 10.4 | ||||||||||||||||
Stock Options | ||||||||||||||||||
The Company last issued stock options in 2004 and as of December 31, 2006, all stock options were fully vested and expensed. All stock options have a contractual life of 10 years. A summary of the activity for the Company's stock options at December 31, 2013 and changes during 2013 are shown in the following table. | ||||||||||||||||||
(dollars in millions) | Number of Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | Weighted-Average Remaining Contractual Term | ||||||||||||||
Options Outstanding at 12/31/12 | 39,200 | $ | 11.4 | |||||||||||||||
Exercised | (39,200 | ) | $ | (11.40 | ) | $ | 1.4 | |||||||||||
Options Outstanding at 12/31/13 | — | $ | — | $ | — | 0 | years | |||||||||||
Options Fully Vested and Exercisable at 12/31/13 | — | $ | — | $ | — | 0 | years | |||||||||||
A summary of the activity for the Company's exercised stock options in 2013, 2012 and 2011 are shown in the following table. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Intrinsic value (A) | $ | 1.4 | $ | 2 | $ | 2.2 | ||||||||||||
Cash received from stock options exercised | 0.4 | 0.8 | 1.3 | |||||||||||||||
(A) | The difference between the market value on the date of exercise and the option exercise price. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | |||||||||
Supplemental Cash Flow Information | ||||||||||
The following table discloses information about investing and financing activities that affected recognized assets and liabilities but which did not result in cash receipts or payments. Also disclosed in the table is cash paid for interest, net of interest capitalized, and cash paid for income taxes, net of income tax refunds. | ||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||||||||
Installment payments for Tinker electric distribution system | $ | — | $ | 10.6 | $ | — | ||||
Power plant long-term service agreement | 9.7 | — | 1.7 | |||||||
Investment in Enable (Note 3) | 1,248.60 | — | — | |||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||
Cash Paid During the Period for | ||||||||||
Interest (net of interest capitalized) (A) | $ | 151.1 | $ | 161.3 | $ | 138.9 | ||||
Income taxes (net of income tax refunds) | (1.1 | ) | (9.1 | ) | 4.7 | |||||
(A) | Net of interest capitalized of $5.4 million, $8.0 million and $19.1 million in 2013, 2012 and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||
Income Taxes | ||||||||||
The items comprising income tax expense are as follows: | ||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||
Provision (Benefit) for Current Income Taxes | ||||||||||
Federal | $ | — | $ | (9.1 | ) | $ | (5.4 | ) | ||
State | 4.3 | 0.5 | 0.1 | |||||||
Total Provision (Benefit) for Current Income Taxes | 4.3 | (8.6 | ) | (5.3 | ) | |||||
Provision for Deferred Income Taxes, net | ||||||||||
Federal | 154.4 | 147.3 | 165.5 | |||||||
State | (26.4 | ) | (1.5 | ) | 3.8 | |||||
Total Provision for Deferred Income Taxes, net | 128 | 145.8 | 169.3 | |||||||
Deferred Federal Investment Tax Credits, net | (2.0 | ) | (2.1 | ) | (3.3 | ) | ||||
Total Income Tax Expense | $ | 130.3 | $ | 135.1 | $ | 160.7 | ||||
The Company files consolidated income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal tax examinations by tax authorities for years prior to 2010 or state and local tax examinations by tax authorities for years prior to 2009. Income taxes are generally allocated to each company in the affiliated group based on its stand-alone taxable income or loss. Federal investment tax credits previously claimed on electric utility property have been deferred and are being amortized to income over the life of the related property. OG&E earns both Federal and Oklahoma state tax credits associated with production from its wind farms. In addition, OG&E and Enable earn Oklahoma state tax credits associated with their investments in electric generating and natural gas processing facilities which further reduce the Company's effective tax rate. The following schedule reconciles the statutory Federal tax rate to the effective income tax rate: | ||||||||||
Year ended December 31 | 2013 | 2012 | 2011 | |||||||
Statutory Federal tax rate | 35 | % | 35 | % | 35 | % | ||||
Amortization of net unfunded deferred taxes | 0.6 | 0.8 | 0.7 | |||||||
State income taxes, net of Federal income tax benefit | 0.4 | (0.1 | ) | 0.6 | ||||||
Federal investment tax credits, net | (0.4 | ) | (0.4 | ) | (0.7 | ) | ||||
401(k) dividends | (0.5 | ) | (0.5 | ) | (0.5 | ) | ||||
Income attributable to noncontrolling interest | (0.3 | ) | (1.6 | ) | (1.3 | ) | ||||
Federal renewable energy credit (A) | (7.2 | ) | (7.2 | ) | (3.4 | ) | ||||
Uncertain tax positions | 1.5 | — | — | |||||||
Remeasurement of state deferred tax liabilities | (4.1 | ) | — | — | ||||||
Other | (0.1 | ) | — | 0.3 | ||||||
Effective income tax rate | 24.9 | % | 26 | % | 30.7 | % | ||||
(A) | Represents credits associated with the production from OG&E's wind farms. | |||||||||
The deferred tax provisions are recognized as costs in the ratemaking process by the commissions having jurisdiction over the rates charged by OG&E. The components of Deferred Income Taxes at December 31, 2013 and 2012, respectively, were as follows: | ||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||
Current Deferred Income Tax Assets | ||||||||||
Net operating losses | $ | 180.1 | $ | 152.4 | ||||||
Accrued liabilities | 22.3 | 27.1 | ||||||||
Federal tax credits | 8 | 6 | ||||||||
Accrued vacation | 4.7 | 3.8 | ||||||||
Uncollectible accounts | 0.7 | 1 | ||||||||
Total Current Deferred Income Tax Assets | 215.8 | 190.3 | ||||||||
Current Accrued Income Tax Liabilities | ||||||||||
Derivative instruments | — | (2.6 | ) | |||||||
Total Current Accrued Income Tax Liabilities | — | (2.6 | ) | |||||||
Current Deferred Income Tax Assets, net | $ | 215.8 | $ | 187.7 | ||||||
Non-Current Deferred Income Tax Liabilities | ||||||||||
Accelerated depreciation and other property related differences | $ | 1,753.30 | $ | 1,660.30 | ||||||
Investment in Enogex Holdings | — | 638 | ||||||||
Investment in Enable Midstream Partners | 630.5 | — | ||||||||
Company pension plan | 55.1 | 52.4 | ||||||||
Income taxes refundable to customers, net | 21.9 | 21.2 | ||||||||
Regulatory asset | 26.1 | 18.8 | ||||||||
Bond redemption-unamortized costs | 3.6 | 4 | ||||||||
Derivative instruments | 1.6 | 1.5 | ||||||||
Total Non-Current Deferred Income Tax Liabilities | 2,492.10 | 2,396.20 | ||||||||
Non-Current Deferred Income Tax Assets | ||||||||||
Federal tax credits | (105.2 | ) | (69.6 | ) | ||||||
State tax credits | (92.6 | ) | (83.7 | ) | ||||||
Postretirement medical and life insurance benefits | (62.8 | ) | (57.6 | ) | ||||||
Regulatory liabilities | (61.3 | ) | (71.4 | ) | ||||||
Asset retirement obligations | (20.8 | ) | — | |||||||
Net operating losses | (18.8 | ) | (159.1 | ) | ||||||
Other | (4.6 | ) | (4.5 | ) | ||||||
Deferred Federal investment tax credits | (0.7 | ) | (1.5 | ) | ||||||
Total Non-Current Deferred Income Tax Assets | (366.8 | ) | (447.4 | ) | ||||||
Non-Current Deferred Income Tax Liabilities, net | $ | 2,125.30 | $ | 1,948.80 | ||||||
As of December 31, 2013, the Company has classified $7.8 million of unrecognized tax benefits as a reduction of deferred tax assets recorded. Management is currently unaware of any issues under review that could result in significant additional payments, accruals, or other material deviation from this amount. | ||||||||||
Following is a reconciliation of the Company’s total gross unrecognized tax benefits as of the years ended December 31, 2013, 2012, and 2011. | ||||||||||
(Millions) | 2013 | 2012 | 2011 | |||||||
Balance at January 1 | $ | — | $ | — | $ | — | ||||
Tax positions related to current year: | ||||||||||
Additions | 2.7 | — | — | |||||||
Tax positions related to prior years: | ||||||||||
Additions | 5.1 | — | — | |||||||
Balance at December 31 | $ | 7.8 | $ | — | $ | — | ||||
Where applicable, the Company classifies income tax-related interest and penalties as interest expense and other operation and maintenance expense, respectively. During the year ended December 31, 2013, there were no income tax-related interest or penalties recorded with regard to uncertain tax positions. The total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, was $7.8 million as of December 31, 2013. | ||||||||||
As previously reported, in January 2013, OG&E determined that a portion of certain Oklahoma investment tax credits previously recognized but not yet utilized may not be available for utilization in future years. During the first quarter of 2013, OG&E recorded a reserve of $7.8 million ($5.1 million after tax) related to a portion of the Oklahoma investment tax credits generated in years prior to 2013 but not yet utilized due to management's determination that it is more likely than not that it will be unable to utilize these credits. An additional reserve of $4.1 million ($2.7 million after tax) was established with regard to these credits generated in the current year. | ||||||||||
Prior to 2013, the Company had a Federal tax operating loss primarily caused by the accelerated tax "bonus" depreciation provision contained within the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 which allowed the Company to record a current income tax deduction for 100 percent of the cost of certain property placed into service in 2011 and 50 percent for certain property placed into service in 2012. During 2013, the Company began to utilize these net operating losses. | ||||||||||
On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law. Among other things, the law included an extension of bonus depreciation for one year for property generally placed in service before January 1, 2014. The impact of the new law was reflected in the Company's 2013 Consolidated Financial Statements as an increase in Deferred Tax Liabilities with a corresponding increase in Deferred Tax Assets related to the net operating loss. | ||||||||||
In June 2010, new legislation was passed in Oklahoma that created a moratorium, from July 1, 2010 through June 30, 2012, on 30 income tax credits. For income tax purposes, credits affected by the moratorium could not be claimed for any event, transaction, investment, expenditure or other act for which the credits would otherwise be allowable. During this two-year period, affected credits generated by the Company were deferred and will be utilized at a future date. For financial accounting purposes, the Company is receiving the benefits as most of these credits did not expire if they were not utilized in the period they were generated. | ||||||||||
Other | ||||||||||
The Company sustained Federal and state tax operating losses through 2012 caused primarily by bonus depreciation and other book verses tax temporary differences. As a result, the Company had accrued Federal and state income tax benefits carrying into 2013. As the Company can no longer carry these losses back to prior periods, these losses are being carried forward for utilization in future years. In addition to the operating losses, the Company was unable to utilize the various tax credits that were generating during these years. These tax losses and credits are being carried as deferred tax assets and will be utilized in future periods. Under current law, the Company anticipates future taxable income will be sufficient to utilize all of the losses and credits before they begin to expire, accordingly no valuation allowance is considered necessary. The following table summarizes these carry forwards: | ||||||||||
(In millions) | Carry Forward Amount | Deferred Tax Asset | Earliest Expiration Date | |||||||
Net operating losses | ||||||||||
State operating loss | $ | 893.6 | $ | 32.8 | 2030 | |||||
Federal operating loss | 474.6 | 166.1 | 2030 | |||||||
Federal tax credits | 113.2 | 113.2 | 2029 | |||||||
State tax credits | ||||||||||
Oklahoma investment tax credits | 106.1 | 69 | N/A | |||||||
Oklahoma capital investment board credits | 7.3 | 7.3 | N/A | |||||||
Oklahoma zero emission tax credits | 24.3 | 16.3 | 2020 | |||||||
Acquisition of the equity interest in Enable on May 1, 2013, is also expected to increase the Company's utilization of state net operating loss carryforwards. Under current tax law, the Company projects full utilization of all Federal operating losses in 2014 as well as partial utilization of State operating loss carryforwards. Accordingly, a current deferred tax asset of $180.1 million has been reflected on the balance sheet. | ||||||||||
As a result of acquiring an equity interest in Enable, the Company has a lower effective tax rate in conjunction with the formation of Enable in states with lower state tax rates. Remeasurement of state deferred tax expense to reflect these lower rates reduced income tax expense for 2013 by $8.4 million. In addition, deferred tax adjustments related to the Company's deconsolidation of Enogex Holdings increased income tax expense for 2013 by $3.9 million. | ||||||||||
During 2013, the Company recognized a $16.4 million reduction in deferred state income taxes, associated with a remeasurement of the accumulated deferred taxes related to the formation of an employment company within Enable. |
Common_Equity
Common Equity | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity [Abstract] | ' | |||||||||
Common Equity | ' | |||||||||
Common Equity | ||||||||||
Forward Stock Split | ||||||||||
On May 16, 2013, the Company's Board of Directors approved a 2-for-1 forward stock split of the Company's common stock, effective July 1, 2013, which entitled each shareholder of record to receive two shares for every one share of Company stock owned by the shareholder. In connection with the stock split, an amendment to the Company's Articles of Incorporation was approved on May 16, 2013 which increased the number of authorized shares of common stock from 225 million to 450 million. All share and per share amounts presented within this Form 10-K reflect the effects of the stock split. | ||||||||||
Automatic Dividend Reinvestment and Stock Purchase Plan | ||||||||||
The Company issued 399,485 shares of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan in 2013 and received proceeds of $13.8 million. The Company may, from time to time, issue additional shares under its Automatic Dividend Reinvestment and Stock Purchase Plan to fund capital requirements or working capital needs. At December 31, 2013, there were 3,845,503 shares of unissued common stock reserved for issuance under the Company's Automatic Dividend Reinvestment and Stock Purchase Plan. | ||||||||||
Earnings Per Share | ||||||||||
Basic earnings per share is calculated by dividing net income attributable to OGE Energy by the weighted average number of the Company's common shares outstanding during the period. In the calculation of diluted earnings per share, weighted average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for the Company consist of performance units. Basic and diluted earnings per share for the Company were calculated as follows: | ||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||
Net Income Attributable to OGE Energy | $ | 387.6 | $ | 355 | $ | 342.9 | ||||
Average Common Shares Outstanding | ||||||||||
Basic average common shares outstanding | 198.2 | 197.1 | 195.8 | |||||||
Effect of dilutive securities: | ||||||||||
Contingently issuable shares (performance units) | 1.2 | 1 | 2.7 | |||||||
Diluted average common shares outstanding | 199.4 | 198.1 | 198.5 | |||||||
Basic Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders | $ | 1.96 | $ | 1.8 | $ | 1.75 | ||||
Diluted Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders | $ | 1.94 | $ | 1.79 | $ | 1.73 | ||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||
Long-Term Debt | ' | ||||||
Long-Term Debt | |||||||
A summary of the Company's long-term debt is included in the Consolidated Statements of Capitalization. At December 31, 2013, the Company was in compliance with all of its debt agreements. | |||||||
OG&E Industrial Authority Bonds | |||||||
OG&E has tax-exempt pollution control bonds with optional redemption provisions that allow the holders to request repayment of the bonds on any business day. The bonds, which can be tendered at the option of the holder during the next 12 months, are as follows: | |||||||
SERIES | DATE DUE | AMOUNT | |||||
(In millions) | |||||||
0.18% | - | 0.34% | Garfield Industrial Authority, January 1, 2025 | $ | 47 | ||
0.10% | - | 0.39% | Muskogee Industrial Authority, January 1, 2025 | 32.4 | |||
0.10% | - | 0.30% | Muskogee Industrial Authority, June 1, 2027 | 56 | |||
Total (redeemable during next 12 months) | $ | 135.4 | |||||
All of these bonds are subject to an optional tender at the request of the holders, at 100 percent of the principal amount, together with accrued and unpaid interest to the date of purchase. The bond holders, on any business day, can request repayment of the bond by delivering an irrevocable notice to the tender agent stating the principal amount of the bond, payment instructions for the purchase price and the business day the bond is to be purchased. The repayment option may only be exercised by the holder of a bond for the principal amount. When a tender notice has been received by the trustee, a third party remarketing agent for the bonds will attempt to remarket any bonds tendered for purchase. This process occurs once per week. Since the original issuance of these series of bonds in 1995 and 1997, the remarketing agent has successfully remarketed all tendered bonds. If the remarketing agent is unable to remarket any such bonds, OG&E is obligated to repurchase such unremarketed bonds. As OG&E has both the intent and ability to refinance the bonds on a long-term basis and such ability is supported by an ability to consummate the refinancing, the bonds are classified as long-term debt in the Company's Consolidated Financial Statements. OG&E believes that it has sufficient liquidity to meet these obligations. | |||||||
Issuance of Long-Term Debt | |||||||
On May 8, 2013, OG&E issued $250 million of 3.9% senior notes due May 1, 2043. The proceeds from the issuance were added to OG&E's general funds and were used to repay short-term debt, fund capital expenditures, general corporate expenses and for working capital purposes. OG&E expects to issue additional long-term debt from time to time when market conditions are favorable and when the need arises. | |||||||
Long-Term Debt Maturities | |||||||
Maturities of the Company's long-term debt during the next five years consist of $100.2 million, $0.2 million, $110.2 million, $125.1 million and $250.1 million in years 2014, 2015, 2016, 2017 and 2018, respectively. | |||||||
The Company has previously incurred costs related to debt refinancings. Unamortized loss on reacquired debt is classified as a Non-Current Regulatory Asset, unamortized debt expense is classified as Deferred Charges and Other Assets and the unamortized premium and discount on long-term debt is classified as Long-Term Debt, respectively, in the Consolidated Balance Sheets and are being amortized over the life of the respective debt. |
ShortTerm_Debt_and_Credit_Faci
Short-Term Debt and Credit Facilities | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Short-term Debt [Abstract] | ' | |||||||||||
Short-Term Debt and Credit Facilities | ' | |||||||||||
Short-Term Debt and Credit Facilities | ||||||||||||
The Company borrows on a short-term basis, as necessary, by the issuance of commercial paper and by borrowings under its revolving credit agreements. The short-term debt balance was $439.6 million and $430.9 million at December 31, 2013 and 2012, respectively, at a weighted-average interest rate of 0.30 percent and 0.43 percent, respectively. The following table provides information regarding the Company's revolving credit agreements and available cash at December 31, 2013. | ||||||||||||
Aggregate | Amount | Weighted-Average | ||||||||||
Entity | Commitment | Outstanding (A) | Interest Rate | Maturity | ||||||||
(In millions) | ||||||||||||
OGE Energy (B) | $ | 750 | $ | 439.6 | 0.3 | % | (D) | December 13, 2017 | (E) | |||
OG&E (C) | 400 | 2.1 | 0.53 | % | (D) | December 13, 2017 | (E) | |||||
1,150.00 | 441.7 | 0.3 | % | |||||||||
Cash | 6.8 | N/A | N/A | N/A | ||||||||
Total | $ | 1,156.80 | $ | 441.7 | 0.3 | % | ||||||
(A) | Includes direct borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit at December 31, 2013. | |||||||||||
(B) | This bank facility is available to back up OGE Energy's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
(C) | This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
(D) | Represents the weighted-average interest rate for the outstanding borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit. | |||||||||||
(E) | In December 2011, the Company and OG&E entered into unsecured five-year revolving credit agreements to total in the aggregate $1,150.0 million ($750.0 million for the Company and $400.0 million for OG&E). Each of the credit facilities contain an option, which may be exercised up to two times, to extend the term for an additional year, subject to consent of a specified percentage of the lenders. Effective July 29, 2013, the Company and OG&E utilized one of these one-year extensions, and received consent from all of the lenders, to extend the maturity of their credit agreements to December 13, 2017. | |||||||||||
Effective May 1, 2013, Enable entered into a $1.4 billion, five-year senior unsecured revolving credit facility in accordance with the terms of the Master Formation Agreement and Enogex LLC's $400.0 million revolving credit facility was terminated. | ||||||||||||
The Company's ability to access the commercial paper market could be adversely impacted by a credit ratings downgrade or major market disruptions. Pricing grids associated with the Company's credit facilities could cause annual fees and borrowing rates to increase if an adverse rating impact occurs. The impact of any future downgrade could include an increase in the costs of the Company's short-term borrowings, but a reduction in the Company's credit ratings would not result in any defaults or accelerations. Any future downgrade could also lead to higher long-term borrowing costs and, if below investment grade, would require the Company to post collateral or letters of credit. | ||||||||||||
OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $800 million in short-term borrowings at any one time for a two-year period beginning January 1, 2013 and ending December 31, 2014. |
Retirement_Plans_and_Postretir
Retirement Plans and Postretirement Benefit Plans | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Retirement Plans and Postretirement Benefit Plans [Abstract] | ' | |||||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||||||||||||||||
Retirement Plans and Postretirement Benefit Plans | ||||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||||
Employees hired or rehired on or after December 1, 2009 do not participate in the Pension Plan but are eligible to participate in the 401(k) Plan where, for each pay period, the Company contributes to the 401(k) Plan, on behalf of each participant, 200 percent of the participant's contributions up to five percent of compensation. | ||||||||||||||||||||||||||||
It is the Company's policy to fund the Pension Plan on a current basis based on the net periodic pension expense as determined by the Company's actuarial consultants. During both 2013 and 2012, OGE Energy made contributions to its Pension Plan of $35 million to help ensure that the Pension Plan maintains an adequate funded status. Such contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. During 2014, OGE Energy expects to contribute up to $26 million to its Pension Plan. The expected contribution to the Pension Plan during 2014 would be a discretionary contribution, anticipated to be in the form of cash, and is not required to satisfy the minimum regulatory funding requirement specified by the Employee Retirement Income Security Act of 1974, as amended. OGE Energy could be required to make additional contributions if the value of its pension trust and postretirement benefit plan trust assets are adversely impacted by a major market disruption in the future. | ||||||||||||||||||||||||||||
In accordance with ASC Topic 715, "Compensation - Retirement Benefits," a one-time settlement charge is required to be recorded by an organization when lump sum payments or other settlements that relieve the organization from the responsibility for the pension benefit obligation during a plan year exceed the service cost and interest cost components of the organization’s net periodic pension cost. During 2013, the Company experienced an increase in both the number of employees electing to retire and the amount of lump sum payments to be paid to such employees upon retirement. As a result, and based in part on the Company’s historical experience regarding eligible employees who elect to retire in the last quarter of a particular year, the Company recorded pension settlement charges of $22.4 million in the fourth quarter of 2013, of which $17.0 million related to OG&E’s Oklahoma jurisdiction and has been included in the pension tracker. The pension settlement charge did not require a cash outlay by the Company and did not increase the Company’s total pension expense over time, as the charges were an acceleration of costs that otherwise would be recognized as pension expense in future periods. | ||||||||||||||||||||||||||||
The Company provides a Restoration of Retirement Income Plan to those participants in the Company's Pension Plan whose benefits are subject to certain limitations of the Code. Participants in the Restoration of Retirement Income Plan receive the same benefits that they would have received under the Company's Pension Plan in the absence of limitations imposed by the Federal tax laws. The Restoration of Retirement Income Plan is intended to be an unfunded plan. | ||||||||||||||||||||||||||||
The following table presents the status of the Company's Pension Plan and Restoration of Retirement Income Plan at December 31, 2013 and 2012. These amounts have been recorded in Accrued Benefit Obligations with the offset in Accumulated Other Comprehensive Loss (except OG&E's portion which is recorded as a regulatory asset as discussed in Note 1) in the Company's Consolidated Balance Sheet. The amounts in Accumulated Other Comprehensive Loss and those recorded as a regulatory asset represent a net periodic benefit cost to be recognized in the Consolidated Statements of Income in future periods. | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | |||||||||||||||||||||||||||
Income Plan | ||||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Benefit obligations | $ | (658.1 | ) | $ | (747.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | ||||||||||||||||
Fair value of plan assets | 654.9 | 626 | — | — | ||||||||||||||||||||||||
Funded status at end of year | $ | (3.2 | ) | $ | (121.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | ||||||||||||||||
The following table summarizes the benefit payments the Company expects to pay related to its Pension Plan and Restoration of Retirement Income Plan. These expected benefits are based on the same assumptions used to measure the Company's benefit obligation at the end of the year and include benefits attributable to estimated future employee service. | ||||||||||||||||||||||||||||
Projected Benefit Payments | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
2014 | $ | 93.2 | ||||||||||||||||||||||||||
2015 | 82 | |||||||||||||||||||||||||||
2016 | 76.7 | |||||||||||||||||||||||||||
2017 | 71.7 | |||||||||||||||||||||||||||
2018 | 64.7 | |||||||||||||||||||||||||||
After 2018 | 270.1 | |||||||||||||||||||||||||||
Plan Investments, Policies and Strategies | ||||||||||||||||||||||||||||
The Pension Plan assets are held in a trust which follows an investment policy and strategy designed to reduce the funded status volatility of the Plan by utilizing liability driven investing. The purpose of liability driven investing is to structure the asset portfolio to more closely resemble the pension liability and thereby more effectively hedge against changes in the liability. The investment policy follows a glide path approach that shifts a higher portfolio weighting to fixed income as the Plan's funded status increases. The table below sets forth the targeted fixed income and equity allocations at different funded status levels. | ||||||||||||||||||||||||||||
Projected Benefit Obligation Funded Status Thresholds | <90% | 95% | 100% | 105% | 110% | 115% | 120% | |||||||||||||||||||||
Fixed income | 50% | 58% | 65% | 73% | 80% | 85% | 90% | |||||||||||||||||||||
Equity | 50% | 42% | 35% | 27% | 20% | 15% | 10% | |||||||||||||||||||||
Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |||||||||||||||||||||
Within the portfolio's overall allocation to equities, the funds are allocated according to the guidelines in the table below. | ||||||||||||||||||||||||||||
Asset Class | Target Allocation | Minimum | Maximum | |||||||||||||||||||||||||
Domestic All-Cap/Large Cap Equity | 50% | 50% | 60% | |||||||||||||||||||||||||
Domestic Mid-Cap Equity | 15% | 5% | 25% | |||||||||||||||||||||||||
Domestic Small-Cap Equity | 15% | 5% | 25% | |||||||||||||||||||||||||
International Equity | 20% | 10% | 30% | |||||||||||||||||||||||||
The Company has retained an investment consultant responsible for the general investment oversight, analysis, monitoring investment guideline compliance and providing quarterly reports to certain of the Company's members and the Company's Investment Committee. The various investment managers used by the trust operate within the general operating objectives as established in the investment policy and within the specific guidelines established for each investment manager's respective portfolio. | ||||||||||||||||||||||||||||
The portfolio is rebalanced on an annual basis to bring the asset allocations of various managers in line with the target asset allocation listed above. More frequent rebalancing may occur if there are dramatic price movements in the financial markets which may cause the trust's exposure to any asset class to exceed or fall below the established allowable guidelines. | ||||||||||||||||||||||||||||
To evaluate the progress of the portfolio, investment performance is reviewed quarterly. It is, however, expected that performance goals will be met over a full market cycle, normally defined as a three to five year period. Analysis of performance is within the context of the prevailing investment environment and the advisors' investment style. The goal of the trust is to provide a rate of return consistently from three percent to five percent over the rate of inflation (as measured by the national Consumer Price Index) on a fee adjusted basis over a typical market cycle of no less than three years and no more than five years. Each investment manager is expected to outperform its respective benchmark. Below is a list of each asset class utilized with appropriate comparative benchmark(s) each manager is evaluated against: | ||||||||||||||||||||||||||||
Asset Class | Comparative Benchmark(s) | |||||||||||||||||||||||||||
Core Fixed Income | Barclays Capital Aggregate Index | |||||||||||||||||||||||||||
Interest Rate Sensitive Fixed Income | Barclays Capital Aggregate Index | |||||||||||||||||||||||||||
Long Duration Fixed Income | Barclays Long Government/Credit | |||||||||||||||||||||||||||
Equity Index | Standard & Poor's 500 Index | |||||||||||||||||||||||||||
All-Cap Equity | Russell 3000 Index | |||||||||||||||||||||||||||
Russell 3000 Value Index | ||||||||||||||||||||||||||||
Mid-Cap Equity | Russell Midcap Index | |||||||||||||||||||||||||||
Russell Midcap Value Index | ||||||||||||||||||||||||||||
Small-Cap Equity | Russell 2000 Index | |||||||||||||||||||||||||||
Russell 2000 Value Index | ||||||||||||||||||||||||||||
International Equity | Morgan Stanley Capital Investment ACWI ex-US | |||||||||||||||||||||||||||
The fixed income manager is expected to use discretion over the asset mix of the trust assets in its efforts to maximize risk-adjusted performance. Exposure to any single issuer, other than the U.S. government, its agencies, or its instrumentalities (which have no limits) is limited to five percent of the fixed income portfolio as measured by market value. At least 75 percent of the invested assets must possess an investment grade rating at or above Baa3 or BBB- by Moody's Investors Services, Standard & Poor's Ratings Services or Fitch Ratings. The portfolio may invest up to 10 percent of the portfolio's market value in convertible bonds as long as the securities purchased meet the quality guidelines. The purchase of any of the Company's equity, debt or other securities is prohibited. | ||||||||||||||||||||||||||||
The domestic value equity managers focus on stocks that the manager believes are undervalued in price and earn an average or less than average return on assets, and often pays out higher than average dividend payments. The domestic growth equity manager will invest primarily in growth companies which consistently experience above average growth in earnings and sales, earn a high return on assets, and reinvest cash flow into existing business. The domestic mid-cap equity portfolio manager focuses on companies with market capitalizations lower than the average company traded on the public exchanges with the following characteristics: price/earnings ratio at or near the Russell Midcap Index, small dividend yield, return on equity at or near the Russell Midcap Index and an earnings per share growth rate at or near the Russell Midcap Index. The domestic small-cap equity manager will purchase shares of companies with market capitalizations lower than the average company traded on the public exchanges with the following characteristics: price/earnings ratio at or near the Russell 2000, small dividend yield, return on equity at or near the Russell 2000 and an earnings per share growth rate at or near the Russell 2000. The international global equity manager invests primarily in non-dollar denominated equity securities. Investing internationally diversifies the overall trust across the global equity markets. The manager is required to operate under certain restrictions including: regional constraints, diversification requirements and percentage of U.S. securities. The Morgan Stanley Capital International All Country World ex-US Index is the benchmark for comparative performance purposes. The Morgan Stanley Capital International All Country World ex-US Index is a market value weighted index designed to measure the combined equity market performance of developed and emerging markets countries, excluding the United States. All of the equities which are purchased for the international portfolio are thoroughly researched. Only companies with a market capitalization in excess of $100 million are allowable. No more than five percent of the portfolio can be invested in any one stock at the time of purchase. All securities are freely traded on a recognized stock exchange and there are no 144-A securities and no over-the-counter derivatives. The following investment categories are excluded: options (other than traded currency options), commodities, futures (other than currency futures or currency hedging), short sales/margin purchases, private placements, unlisted securities and real estate (but not real estate shares). | ||||||||||||||||||||||||||||
For all domestic equity investment managers, no more than eight percent (five percent for mid-cap and small-cap equity managers) can be invested in any one stock at the time of purchase and no more than 16 percent (10 percent for mid-cap and small-cap equity managers) after accounting for price appreciation. Options or financial futures may not be purchased unless prior approval of the Company's Investment Committee is received. The purchase of securities on margin is prohibited as is securities lending. Private placement or venture capital may not be purchased. All interest and dividend payments must be swept on a daily basis into a short-term money market fund for re-deployment. The purchase of any of the Company's equity, debt or other securities is prohibited. The purchase of equity or debt issues of the portfolio manager's organization is also prohibited. The aggregate positions in any company may not exceed one percent of the fair market value of its outstanding stock. | ||||||||||||||||||||||||||||
Plan Investments | ||||||||||||||||||||||||||||
The following tables summarize the Pension Plan's investments that are measured at fair value on a recurring basis at December 31, 2013 and 2012. There were no Level 3 investments held by the Pension Plan at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
(In millions) | December 31, 2013 | Level 1 | Level 2 | |||||||||||||||||||||||||
Common stocks | ||||||||||||||||||||||||||||
U.S. common stocks | $ | 236.8 | $ | 236.8 | $ | — | ||||||||||||||||||||||
Foreign common stocks | 39.3 | 39.3 | — | |||||||||||||||||||||||||
U.S. Government obligations | ||||||||||||||||||||||||||||
U.S. treasury notes and bonds (A) | 159.8 | 159.8 | — | |||||||||||||||||||||||||
Mortgage-backed securities | 50.3 | — | 50.3 | |||||||||||||||||||||||||
Bonds, debentures and notes (B) | ||||||||||||||||||||||||||||
Corporate fixed income and other securities | 110.6 | — | 110.6 | |||||||||||||||||||||||||
Mortgage-backed securities | 22.3 | — | 22.3 | |||||||||||||||||||||||||
Commingled fund (C) | 29.2 | — | 29.2 | |||||||||||||||||||||||||
Common/collective trust (D) | 26 | — | 26 | |||||||||||||||||||||||||
Foreign government bonds | 4 | — | 4 | |||||||||||||||||||||||||
U.S. municipal bonds | 2 | — | 2 | |||||||||||||||||||||||||
Interest-bearing cash | 0.1 | 0.1 | — | |||||||||||||||||||||||||
Forward contracts | ||||||||||||||||||||||||||||
Receivable (foreign currency) | 1.1 | — | 1.1 | |||||||||||||||||||||||||
Payable (foreign currency) | (1.1 | ) | — | (1.1 | ) | |||||||||||||||||||||||
Total Plan investments | $ | 680.4 | $ | 436 | $ | 244.4 | ||||||||||||||||||||||
Receivable from broker for securities sold | 11.5 | |||||||||||||||||||||||||||
Interest and dividends receivable | 3.2 | |||||||||||||||||||||||||||
Payable to broker for securities purchased | (40.2 | ) | ||||||||||||||||||||||||||
Total Plan assets | $ | 654.9 | ||||||||||||||||||||||||||
(In millions) | December 31, 2012 | Level 1 | Level 2 | |||||||||||||||||||||||||
Common stocks | ||||||||||||||||||||||||||||
U.S. common stocks | $ | 232.2 | $ | 232.2 | $ | — | ||||||||||||||||||||||
Foreign common stocks | 39.9 | 39.9 | — | |||||||||||||||||||||||||
U.S. Government obligations | ||||||||||||||||||||||||||||
U.S. treasury notes and bonds (A) | 138.6 | 138.6 | — | |||||||||||||||||||||||||
Mortgage-backed securities | 55.8 | — | 55.8 | |||||||||||||||||||||||||
Bonds, debentures and notes (B) | ||||||||||||||||||||||||||||
Corporate fixed income and other securities | 98.4 | — | 98.4 | |||||||||||||||||||||||||
Mortgage-backed securities | 13.5 | — | 13.5 | |||||||||||||||||||||||||
Commingled fund (C) | 34.9 | — | 34.9 | |||||||||||||||||||||||||
Common/collective trust (D) | 25.6 | — | 25.6 | |||||||||||||||||||||||||
Foreign government bonds | 3.9 | — | 3.9 | |||||||||||||||||||||||||
U.S. municipal bonds | 0.8 | — | 0.8 | |||||||||||||||||||||||||
Interest-bearing cash | 0.2 | 0.2 | — | |||||||||||||||||||||||||
Preferred stocks (foreign) | — | — | — | |||||||||||||||||||||||||
Forward contracts | ||||||||||||||||||||||||||||
Receivable (foreign currency) | 0.4 | — | 0.4 | |||||||||||||||||||||||||
Payable (foreign currency) | (0.4 | ) | — | (0.4 | ) | |||||||||||||||||||||||
Total Plan investments | $ | 643.8 | $ | 410.9 | $ | 232.9 | ||||||||||||||||||||||
Receivable from broker for securities sold | 0.8 | |||||||||||||||||||||||||||
Interest and dividends receivable | 2.8 | |||||||||||||||||||||||||||
Payable to broker for securities purchased | (21.4 | ) | ||||||||||||||||||||||||||
Total Plan assets | $ | 626 | ||||||||||||||||||||||||||
(A) | This category represents U.S. treasury notes and bonds with a Moody's Investors Services rating of Aaa and Government Agency Bonds with a Moody's Investors Services rating of A1 or higher. | |||||||||||||||||||||||||||
(B) | This category primarily represents U.S. corporate bonds with an investment grade rating at or above Baa3 or BBB- by Moody's Investors Services, Standard & Poor's Ratings Services or Fitch Ratings. | |||||||||||||||||||||||||||
(C) | This category represents units of participation in a commingled fund that primarily invested in stocks of international companies and emerging markets. | |||||||||||||||||||||||||||
(D) | This category represents units of participation in an investment pool which primarily invests in foreign or domestic bonds, debentures, mortgages, equipment or other trust certificates, notes, obligations issued or guaranteed by the U.S. Government or its agencies, bank certificates of deposit, bankers' acceptances and repurchase agreements, high grade commercial paper and other instruments with money market characteristics with a fixed or variable interest rate. There are no restrictions on redemptions in the common/collective trust. | |||||||||||||||||||||||||||
The three levels defined in the fair value hierarchy and examples of each are as follows: | ||||||||||||||||||||||||||||
Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible by the Pension Plan at the measurement date. Instruments classified as Level 1 include investments in common and preferred stocks, U.S. treasury notes and bonds, mutual funds and interest-bearing cash. | ||||||||||||||||||||||||||||
Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Instruments classified as Level 2 include corporate fixed income and other securities, mortgage-backed securities, other U.S. Government obligations, commingled fund, a common/collective trust, U.S. municipal bonds, foreign government bonds, a repurchase agreement, money market fund and forward contracts. | ||||||||||||||||||||||||||||
Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the Plan's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). | ||||||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||||
In addition to providing pension benefits, the Company provides certain medical and life insurance benefits for eligible retired members. Regular, full-time, active employees hired prior to February 1, 2000 whose age and years of credited service total or exceed 80 or have attained at least age 55 with 10 or more years of service at the time of retirement are entitled to postretirement medical benefits while employees hired on or after February 1, 2000 are not entitled to postretirement medical benefits. Eligible retirees must contribute such amount as the Company specifies from time to time toward the cost of coverage for postretirement benefits. The benefits are subject to deductibles, co-payment provisions and other limitations. OG&E charges to expense the postretirement benefit costs and includes an annual amount as a component of the cost-of-service in future ratemaking proceedings. | ||||||||||||||||||||||||||||
The Company's contribution to the medical costs for pre-65 aged eligible retirees are fixed at the 2011 level and the Company covers future annual medical inflationary cost increases up to five percent. Increases in excess of five percent annually are covered by the pre-65 aged retiree in the form of premium increases. The Company provides Medicare-eligible retirees and their Medicare-eligible spouses an annual fixed contribution to a Company-sponsored health reimbursement arrangement. Medicare-eligible retirees are able to purchase individual insurance policies supplemental to Medicare through a third-party administrator and use their health reimbursement arrangement funds for reimbursement of medical premiums and other eligible medical expenses. | ||||||||||||||||||||||||||||
Plan Investments | ||||||||||||||||||||||||||||
The following tables summarize the postretirement benefit plans investments that are measured at fair value on a recurring basis at December 31, 2013 and 2012. There were no Level 2 investments held by the postretirement benefit plans at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
(In millions) | December 31, 2013 | Level 1 | Level 3 | |||||||||||||||||||||||||
Group retiree medical insurance contract (A) | $ | 53.1 | $ | — | $ | 53.1 | ||||||||||||||||||||||
Mutual funds investment | ||||||||||||||||||||||||||||
U.S. equity investments | 7.9 | 7.9 | — | |||||||||||||||||||||||||
Money market funds investment | 0.4 | 0.4 | — | |||||||||||||||||||||||||
Total Plan investments | $ | 61.4 | $ | 8.3 | $ | 53.1 | ||||||||||||||||||||||
(In millions) | December 31, 2012 | Level 1 | Level 3 | |||||||||||||||||||||||||
Group retiree medical insurance contract (A) | $ | 53.3 | $ | — | $ | 53.3 | ||||||||||||||||||||||
Mutual funds investment | ||||||||||||||||||||||||||||
U.S. equity investments | 6 | 6 | — | |||||||||||||||||||||||||
Money market funds investment | 0.3 | 0.3 | — | |||||||||||||||||||||||||
Total Plan investments | $ | 59.6 | $ | 6.3 | $ | 53.3 | ||||||||||||||||||||||
(A) | This category represents a group retiree medical insurance contract which invests in a pool of common stocks, bonds and money market accounts, of which a significant portion is comprised of mortgage-backed securities. | |||||||||||||||||||||||||||
The postretirement benefit plans Level 3 investment includes an investment in a group retiree medical insurance contract. The unobservable input included in the valuation of the contract includes the approach for determining the allocation of the postretirement benefit plans pro-rata share of the total assets in the contract. | ||||||||||||||||||||||||||||
The following table summarizes the postretirement benefit plans investments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | |||||||||||||||||||||||||||
Group retiree medical insurance contract | ||||||||||||||||||||||||||||
Beginning balance | $ | 53.3 | ||||||||||||||||||||||||||
Net unrealized gains related to instruments held at the reporting date | (0.5 | ) | ||||||||||||||||||||||||||
Interest income | 1.1 | |||||||||||||||||||||||||||
Dividend income | 0.6 | |||||||||||||||||||||||||||
Realized gains | 0.4 | |||||||||||||||||||||||||||
Administrative expenses and charges | (0.1 | ) | ||||||||||||||||||||||||||
Claims paid | (1.7 | ) | ||||||||||||||||||||||||||
Ending balance | $ | 53.1 | ||||||||||||||||||||||||||
The following table presents the status of the Company's postretirement benefit plans at December 31, 2013 and 2012. These amounts have been recorded in Accrued Benefit Obligations with the offset in Accumulated Other Comprehensive Loss (except OG&E's portion which is recorded as a regulatory asset as discussed in Note 1) in the Company's Consolidated Balance Sheet. The amounts in Accumulated Other Comprehensive Loss and those recorded as a regulatory asset represent a net periodic benefit cost to be recognized in the Consolidated Statements of Income in future periods. | ||||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||||
Benefit obligations | $ | (258.2 | ) | $ | (301.0 | ) | ||||||||||||||||||||||
Fair value of plan assets | 61.4 | 59.6 | ||||||||||||||||||||||||||
Funded status at end of year | $ | (196.8 | ) | $ | (241.4 | ) | ||||||||||||||||||||||
The assumed health care cost trend rates have a significant effect on the amounts reported for postretirement medical benefit plans. Future health care cost trend rates are assumed to be 8.35 percent in 2014 with the rates trending downward to 4.48 percent by 2028. A one-percentage point change in the assumed health care cost trend rate would have the following effects: | ||||||||||||||||||||||||||||
ONE-PERCENTAGE POINT INCREASE | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Effect on aggregate of the service and interest cost components | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Effect on accumulated postretirement benefit obligations | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||||
ONE-PERCENTAGE POINT DECREASE | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Effect on aggregate of the service and interest cost components | $ | 0.1 | $ | 0.1 | $ | 0.1 | ||||||||||||||||||||||
Effect on accumulated postretirement benefit obligations | 0.6 | 0.9 | 0.6 | |||||||||||||||||||||||||
Medicare Prescription Drug, Improvement and Modernization Act of 2003 | ||||||||||||||||||||||||||||
The Medicare Prescription Drug, Improvement and Modernization Act of 2003 expanded coverage for prescription drugs. The following table summarizes the gross benefit payments the Company expects to pay related to its postretirement benefit plans, including prescription drug benefits. | ||||||||||||||||||||||||||||
Gross Projected | ||||||||||||||||||||||||||||
Postretirement | ||||||||||||||||||||||||||||
Benefit | ||||||||||||||||||||||||||||
(In millions) | Payments | |||||||||||||||||||||||||||
2014 | $ | 15.5 | ||||||||||||||||||||||||||
2015 | 16.1 | |||||||||||||||||||||||||||
2016 | 16.7 | |||||||||||||||||||||||||||
2017 | 17.2 | |||||||||||||||||||||||||||
2018 | 17.7 | |||||||||||||||||||||||||||
After 2018 | 90.7 | |||||||||||||||||||||||||||
Obligations and Funded Status | ||||||||||||||||||||||||||||
The following table presents the status of the Company's Pension Plan, the Restoration of Retirement Income Plan and the postretirement benefit plans for 2013 and 2012. The benefit obligation for the Company's Pension Plan and the Restoration of Retirement Income Plan represents the projected benefit obligation, while the benefit obligation for the postretirement benefit plans represents the accumulated postretirement benefit obligation. The accumulated postretirement benefit obligation for the Company's Pension Plan and Restoration of Retirement Income Plan differs from the projected benefit obligation in that the former includes no assumption about future compensation levels. The accumulated postretirement benefit obligation for the Pension Plan and the Restoration of Retirement Income Plan at December 31, 2013 was $623.4 million and $12.9 million, respectively. The accumulated postretirement benefit obligation for the Pension Plan and the Restoration of Retirement Income Plan at December 31, 2012 was $705.2 million and $12.7 million, respectively. The details of the funded status of the Pension Plan, the Restoration of Retirement Income Plan and the postretirement benefit plans and the amounts included in the Consolidated Balance Sheets are as follows: | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | Postretirement | ||||||||||||||||||||||||||
Income Plan | Benefit Plans | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||||||
Beginning obligations | $ | (747.1 | ) | $ | (697.7 | ) | $ | (14.5 | ) | $ | (13.3 | ) | $ | (301.0 | ) | $ | (280.6 | ) | ||||||||||
Service cost | (19.0 | ) | (17.9 | ) | (1.2 | ) | (1.0 | ) | (4.3 | ) | (4.1 | ) | ||||||||||||||||
Interest cost | (26.7 | ) | (30.1 | ) | (0.5 | ) | (0.6 | ) | (10.3 | ) | (11.9 | ) | ||||||||||||||||
Plan amendments | — | — | — | — | — | — | ||||||||||||||||||||||
Plan settlements | 67.5 | — | — | — | — | — | ||||||||||||||||||||||
Participants' contributions | — | — | — | — | (3.4 | ) | (3.5 | ) | ||||||||||||||||||||
Medicare subsidies received | — | — | — | — | — | (0.5 | ) | |||||||||||||||||||||
Actuarial gains (losses) | 53 | (61.4 | ) | 2 | (1.8 | ) | 46.7 | (12.9 | ) | |||||||||||||||||||
Benefits paid | 14.2 | 60 | 0.2 | 2.2 | 14.1 | 12.5 | ||||||||||||||||||||||
Ending obligations | $ | (658.1 | ) | $ | (747.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | $ | (258.2 | ) | $ | (301.0 | ) | ||||||||||
Change in Plans' Assets | ||||||||||||||||||||||||||||
Beginning fair value | $ | 626 | $ | 589.8 | $ | — | $ | — | $ | 59.6 | $ | 61 | ||||||||||||||||
Actual return on plans' assets | 75.6 | 61.2 | — | — | 3.7 | 4.5 | ||||||||||||||||||||||
Employer contributions | 35 | 35 | 0.2 | 2.2 | 8.8 | 2.6 | ||||||||||||||||||||||
Plan settlements | (67.5 | ) | — | — | — | — | — | |||||||||||||||||||||
Participants' contributions | — | — | — | — | 3.4 | 3.5 | ||||||||||||||||||||||
Medicare subsidies received | — | — | — | — | — | 0.5 | ||||||||||||||||||||||
Benefits paid | (14.2 | ) | (60.0 | ) | (0.2 | ) | (2.2 | ) | (14.1 | ) | (12.5 | ) | ||||||||||||||||
Ending fair value | $ | 654.9 | $ | 626 | $ | — | $ | — | $ | 61.4 | $ | 59.6 | ||||||||||||||||
Funded status at end of year | $ | (3.2 | ) | $ | (121.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | $ | (196.8 | ) | $ | (241.4 | ) | ||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | Postretirement Benefit Plans | ||||||||||||||||||||||||||
Income Plan | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 19 | $ | 17.9 | $ | 17.6 | $ | 1.2 | $ | 1 | $ | 1 | $ | 4.3 | $ | 4.1 | $ | 3.5 | ||||||||||
Interest cost | 26.7 | 30.1 | 33.3 | 0.5 | 0.6 | 0.6 | 10.3 | 11.9 | 12.5 | |||||||||||||||||||
Expected return on plan assets | (48.4 | ) | (46.0 | ) | (45.5 | ) | — | — | — | (2.5 | ) | (3.0 | ) | (5.1 | ) | |||||||||||||
Amortization of transition obligation | — | — | — | — | — | — | — | 2.7 | 2.7 | |||||||||||||||||||
Amortization of net loss | 26.5 | 23.8 | 19.2 | 0.4 | 0.4 | 0.4 | 21.5 | 20.6 | 18.3 | |||||||||||||||||||
Amortization of unrecognized prior service cost (A) | 1.8 | 2.2 | 2.4 | 0.3 | 0.7 | 0.7 | (16.5 | ) | (16.5 | ) | (16.5 | ) | ||||||||||||||||
Settlement | 22.4 | — | — | — | 0.9 | — | — | — | — | |||||||||||||||||||
Total net periodic benefit cost | 48 | 28 | 27 | 2.4 | 3.6 | 2.7 | 17.1 | 19.8 | 15.4 | |||||||||||||||||||
Less: Amount paid by unconsolidated affiliates | 5.9 | — | — | 0.1 | — | — | 1.5 | — | — | |||||||||||||||||||
Net periodic benefit cost (B) | $ | 42.1 | $ | 28 | $ | 27 | $ | 2.3 | $ | 3.6 | $ | 2.7 | $ | 15.6 | $ | 19.8 | $ | 15.4 | ||||||||||
(A) | Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. | |||||||||||||||||||||||||||
(B) | In addition to the $60.0 million, $51.4 million and $45.1 million and of net periodic benefit cost recognized in 2013, 2012 and 2011, respectively, the Company recognized the following: | |||||||||||||||||||||||||||
• | an increase in pension expense in 2013, 2012 and 2011 of $5.8 million, $8.3 million and $10.8 million, respectively, to maintain the allowable amount to be recovered for pension expense in the Oklahoma jurisdiction, which are included in the Pension tracker regulatory asset or liability (see Note 1); and | |||||||||||||||||||||||||||
• | an increase in postretirement medical expense in 2013, 2012 and 2011 of $0.6 million, $0.8 million and $3.5 million, respectively, to maintain the allowable amount to be recovered for postretirement medical expense in the Oklahoma jurisdiction which are included in the Pension tracker regulatory asset or liability (see Note 1); | |||||||||||||||||||||||||||
• | a deferral of pension expense in 2013 of $17.0 million related to the pension settlement charge of $22.4 million, in accordance with the Oklahoma pension tracker. | |||||||||||||||||||||||||||
The capitalized portion of the net periodic pension benefit cost was $5.7 million, $6.5 million and $6.1 million at December 31, 2013, 2012 and 2011, respectively. The capitalized portion of the net periodic postretirement benefit cost was $3.5 million, $5.5 million and $3.8 million at December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
Rate Assumptions | ||||||||||||||||||||||||||||
Pension Plan and | Postretirement | |||||||||||||||||||||||||||
Restoration of Retirement Income Plan | Benefit Plans | |||||||||||||||||||||||||||
Year ended December 31 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Discount rate | 4.6 | % | 3.7 | % | 4.5 | % | 4.6 | % | 3.6 | % | 4.5 | % | ||||||||||||||||
Rate of return on plans' assets | 8 | % | 8 | % | 8 | % | 4 | % | 4 | % | 6.5 | % | ||||||||||||||||
Compensation increases | 4.2 | % | 4.2 | % | 4.4 | % | N/A | N/A | N/A | |||||||||||||||||||
Assumed health care cost trend: | ||||||||||||||||||||||||||||
Initial trend | N/A | N/A | N/A | 8.35 | % | 8.55 | % | 8.75 | % | |||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 4.48 | % | 4.48 | % | 4.48 | % | |||||||||||||||||||
Ultimate trend year | N/A | N/A | N/A | 2028 | 2028 | 2028 | ||||||||||||||||||||||
N/A - not applicable | ||||||||||||||||||||||||||||
The overall expected rate of return on plan assets assumption remained at 8.00 percent in 2012 and 2013 in determining net periodic benefit cost due to recent returns on the Company's long-term investment portfolio. The rate of return on plan assets assumption is the average long-term rate of earnings expected on the funds currently invested and to be invested for the purpose of providing benefits specified by the Pension Plan or postretirement benefit plans. This assumption is reexamined at least annually and updated as necessary. The rate of return on plan assets assumption reflects a combination of historical return analysis, forward-looking return expectations and the plans' current and expected asset allocation. | ||||||||||||||||||||||||||||
Post-Employment Benefit Plan | ||||||||||||||||||||||||||||
Disabled employees receiving benefits from the Company's Group Long-Term Disability Plan are entitled to continue participating in the Company's Medical Plan along with their dependents. The post-employment benefit obligation represents the actuarial present value of estimated future medical benefits that are attributed to employee service rendered prior to the date as of which such information is presented. The obligation also includes future medical benefits expected to be paid to current employees participating in the Company's Group Long-Term Disability Plan and their dependents, as defined in the Company's Medical Plan. | ||||||||||||||||||||||||||||
The post-employment benefit obligation is determined by an actuary on a basis similar to the accumulated postretirement benefit obligation. The estimated future medical benefits are projected to grow with expected future medical cost trend rates and are discounted for interest at the discount rate and for the probability that the participant will discontinue receiving benefits from the Company's Group Long-Term Disability Plan due to death, recovery from disability, or eligibility for retiree medical benefits. The Company's post-employment benefit obligation was $1.6 million and $2.6 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
401(k) Plan | ||||||||||||||||||||||||||||
The Company provides a 401(k) Plan. Each regular full-time employee of the Company or a participating affiliate is eligible to participate in the 401(k) Plan immediately. All other employees of the Company or a participating affiliate are eligible to become participants in the 401(k) Plan after completing one year of service as defined in the 401(k) Plan. Participants may contribute each pay period any whole percentage between two percent and 19 percent of their compensation, as defined in the 401(k) Plan, for that pay period. Participants who have attained age 50 before the close of a year are allowed to make additional contributions referred to as "Catch-Up Contributions," subject to certain limitations of the Code. Participants may designate, at their discretion, all or any portion of their contributions as: (i) a before-tax contribution under Section 401(k) of the Code subject to the limitations thereof; or (ii) a contribution made on an after-tax basis. The 401(k) Plan also includes an eligible automatic contribution arrangement and provides for a qualified default investment alternative consistent with the U.S. Department of Labor regulations. Participants may elect, in accordance with the 401(k) Plan procedures, to have his or her future salary deferral rate to be automatically increased annually on a date and in an amount as specified by the participant in such election. | ||||||||||||||||||||||||||||
No Company contributions are made with respect to a participant's Catch-Up Contributions, rollover contributions, or with respect to a participant's contributions based on overtime payments, pay-in-lieu of overtime for exempt personnel, special lump-sum recognition awards and lump-sum merit awards included in compensation for determining the amount of participant contributions. Once made, the Company's contribution may be directed to any available investment option in the 401(k) Plan. The Company match contributions vest over a three-year period. After two years of service, participants become 20 percent vested in their Company contribution account and become fully vested on completing three years of service. In addition, participants fully vest when they are eligible for normal or early retirement under the Pension Plan, in the event of their termination due to death or permanent disability or upon attainment of age 65 while employed by the Company or its affiliates. The Company contributed $14.2 million, $13.4 million and $12.3 million in 2013, 2012 and 2011, respectively, to the 401(k) Plan. | ||||||||||||||||||||||||||||
Deferred Compensation Plan | ||||||||||||||||||||||||||||
The Company provides a nonqualified deferred compensation plan which is intended to be an unfunded plan. The plan's primary purpose is to provide a tax-deferred capital accumulation vehicle for a select group of management, highly compensated employees and non-employee members of the Board of Directors of the Company and to supplement such employees' 401(k) Plan contributions as well as offering this plan to be competitive in the marketplace. | ||||||||||||||||||||||||||||
Eligible employees who enroll in the plan have the following deferral options: (i) eligible employees may elect to defer up to a maximum of 70 percent of base salary and 100 percent of annual bonus awards or (ii) eligible employees may elect a deferral percentage of base salary and bonus awards based on the deferral percentage elected for a year under the 401(k) Plan with such deferrals to start when maximum deferrals to the qualified 401(k) Plan have been made because of limitations in that plan. Eligible directors who enroll in the plan may elect to defer up to a maximum of 100 percent of directors' meeting fees and annual retainers. The Company matches employee (but not non-employee director) deferrals to make up for any match lost in the 401(k) Plan because of deferrals to the deferred compensation plan, and to allow for a match that would have been made under the 401(k) Plan on that portion of either the first six percent of total compensation or the first five percent of total compensation, depending on the option the participant elected under the choice provided to eligible employees in the qualified 401(k) Plan discussed above, deferred that exceeds the limits allowed in the 401(k) Plan. Matching credits vest based on years of service, with full vesting after three years or, if earlier, on retirement, disability, death, a change in control of the Company or termination of the plan. Deferrals, plus any Company match, are credited to a recordkeeping account in the participant's name. Earnings on the deferrals are indexed to the assumed investment funds selected by the participant. In 2013, those investment options included a Company Common Stock fund, whose value was determined based on the stock price of the Company's Common Stock. The Company accounts for the contributions related to the Company's executive officers in this plan as Accrued Benefit Obligations and the Company accounts for the contributions related to the Company's directors in this plan as Other Deferred Credits and Other Liabilities in the Consolidated Balance Sheets. The investment associated with these contributions is accounted for as Other Property and Investments in the Consolidated Balance Sheets. The appreciation of these investments is accounted for as Other Income and the increase in the liability under the plan is accounted for as Other Expense in the Consolidated Statements of Income. | ||||||||||||||||||||||||||||
Supplemental Executive Retirement Plan | ||||||||||||||||||||||||||||
The Company provides a supplemental executive retirement plan in order to attract and retain lateral hires or other executives designated by the Compensation Committee of the Company's Board of Directors who may not otherwise qualify for a sufficient level of benefits under the Company's Pension Plan and Restoration of Retirement Income Plan. The supplemental executive retirement plan is intended to be an unfunded plan and not subject to the benefit limitations of the Code. | ||||||||||||||||||||||||||||
Report_of_Business_Segments
Report of Business Segments | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Report of Business Segments | ' | |||||||||||||||
Report of Business Segments | ||||||||||||||||
Prior to May 1, 2013, the Company's business was divided into three segments as follows: (i) electric utility, which is engaged in the generation, transmission, distribution and sale of electric energy, (ii) natural gas transportation and storage and (iii) natural gas gathering and processing. On March 14, 2013, OGE Energy entered into a Master Formation Agreement with the ArcLight group and CenterPoint Energy, Inc., pursuant to which OGE Energy, the ArcLight Group and CenterPoint Energy, Inc., agreed to form Enable Midstream Partners to own and operate the midstream businesses of OGE Energy and CenterPoint that will initially be structured as a private limited partnership. The transaction closed on May 1, 2013. As a result, effective May 1, 2013, OGE Energy deconsolidated its interest in Enogex Holdings LLC and began accounting for its interest in Enable using the equity method of accounting. The Company's business is now divided into two segments for financial reporting purposes as follows: (i) electric utility and (ii) natural gas midstream operations. The former natural gas transportation and storage segment and natural gas gathering and processing segment have been combined into the natural gas midstream operations segment and have been restated for all prior periods presented. Equity in earnings of unconsolidated affiliates in the natural gas midstream operations segment includes OGE Energy's equity interest in Enable from May 1, 2013 through December 31, 2013. Operating income for the natural gas midstream operations segment represents results of operations for Enogex Holdings LLC through April 30, 2013. Investment in unconsolidated affiliates in the natural gas midstream operations segment represents OGE Energy's investment in Enable at December 31, 2013. Other Operations primarily includes the operations of the holding company. Intersegment revenues are recorded at prices comparable to those of unaffiliated customers and are affected by regulatory considerations. In reviewing its segment operating results, the Company focuses on operating income and equity in earnings of unconsolidated affiliates as its measure of segment profit and loss, and, therefore, has presented this information below. The following tables summarize the results of the Company's business segments for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||
2013 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,262.20 | $ | 630.4 | $ | — | $ | (24.9 | ) | $ | 2,867.70 | |||||
Cost of sales | 965.9 | 489 | — | (26.0 | ) | 1,428.90 | ||||||||||
Other operation and maintenance | 438.8 | 60.9 | (10.5 | ) | — | 489.2 | ||||||||||
Depreciation and amortization | 248.4 | 36.8 | 12.1 | — | 297.3 | |||||||||||
Taxes other than income | 83.8 | 10.5 | 4.5 | — | 98.8 | |||||||||||
Operating income (loss) | $ | 525.3 | $ | 33.2 | $ | (6.1 | ) | $ | 1.1 | $ | 553.5 | |||||
Equity in earnings of unconsolidated affiliates | $ | — | $ | 101.9 | $ | — | $ | — | $ | 101.9 | ||||||
Investment in unconsolidated affiliates (at historical cost) | $ | — | $ | 1,298.80 | $ | — | $ | — | $ | 1,298.80 | ||||||
Total assets | $ | 7,694.90 | $ | 1,348.60 | $ | 216.2 | $ | (125.0 | ) | $ | 9,134.70 | |||||
Capital expenditures | $ | 797.6 | $ | 181.5 | $ | 11.5 | $ | — | $ | 990.6 | ||||||
2012 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,141.20 | $ | 1,608.60 | $ | — | $ | (78.6 | ) | $ | 3,671.20 | |||||
Cost of sales | 879.1 | 1,120.10 | — | (80.5 | ) | 1,918.70 | ||||||||||
Other operation and maintenance | 446.3 | 172.9 | (17.7 | ) | — | 601.5 | ||||||||||
Depreciation and amortization | 248.7 | 108.8 | 13.5 | — | 371 | |||||||||||
Impairment of assets | — | 0.4 | — | — | 0.4 | |||||||||||
Gain on insurance proceeds | — | (7.5 | ) | — | — | (7.5 | ) | |||||||||
Taxes other than income | 77.7 | 28.3 | 4.2 | — | 110.2 | |||||||||||
Operating income (loss) | $ | 489.4 | $ | 185.6 | $ | — | $ | 1.9 | $ | 676.9 | ||||||
Total assets | $ | 7,222.40 | $ | 2,681.30 | $ | 242.6 | $ | (224.1 | ) | $ | 9,922.20 | |||||
Capital expenditures | $ | 704.4 | $ | 506.5 | $ | 18.3 | $ | — | $ | 1,229.20 | ||||||
2011 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,211.50 | $ | 1,787.10 | $ | — | $ | (82.7 | ) | $ | 3,915.90 | |||||
Cost of sales | 1,013.50 | 1,346.60 | — | (82.2 | ) | 2,277.90 | ||||||||||
Other operation and maintenance | 436 | 162.5 | (17.3 | ) | — | 581.2 | ||||||||||
Depreciation and amortization | 216.1 | 77.6 | 13.4 | — | 307.1 | |||||||||||
Impairment of assets | — | 6.3 | — | — | 6.3 | |||||||||||
Gain on insurance proceeds | — | (3.0 | ) | — | — | (3.0 | ) | |||||||||
Taxes other than income | 73.6 | 22 | 4.1 | — | 99.7 | |||||||||||
Operating income (loss) | $ | 472.3 | $ | 175.1 | $ | (0.2 | ) | $ | (0.5 | ) | $ | 646.7 | ||||
Total assets | $ | 6,620.90 | $ | 2,289.00 | $ | 155 | $ | (158.9 | ) | $ | 8,906.00 | |||||
Capital expenditures | $ | 844.5 | $ | 612.5 | $ | 13.8 | $ | — | $ | 1,470.80 | ||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||
Commitments and Contingencies | ' | |||||||||||||||||||||
Commitments and Contingencies | ||||||||||||||||||||||
Operating Lease Obligations | ||||||||||||||||||||||
The Company has operating lease obligations expiring at various dates, primarily for OG&E railcar leases, OG&E wind farm land leases and OGE Energy noncancellable operating lease. Future minimum payments for noncancellable operating leases are as follows: | ||||||||||||||||||||||
Year ended December 31 (In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | Total | |||||||||||||||
Operating lease obligations | ||||||||||||||||||||||
Railcars | $ | 3.8 | $ | 3.1 | $ | 27.3 | $ | — | $ | — | $ | — | $ | 34.2 | ||||||||
Wind farm land leases | 2.1 | 2.1 | 2.1 | 2.4 | 2.4 | 48.8 | 59.9 | |||||||||||||||
OGE Energy noncancellable operating lease | 0.8 | 0.8 | 0.8 | 0.8 | 0.7 | — | 3.9 | |||||||||||||||
Total operating lease obligations | $ | 6.7 | $ | 6 | $ | 30.2 | $ | 3.2 | $ | 3.1 | $ | 48.8 | $ | 98 | ||||||||
Payments for operating lease obligations were $8.8 million, $14.2 million and $10.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
OG&E Railcar Lease Agreement | ||||||||||||||||||||||
OG&E has a noncancellable operating lease with purchase options, covering 1,389 coal rotary gondola railcars to transport coal from Wyoming to OG&E's coal-fired generation units. Rental payments are charged to Fuel Expense and are recovered through OG&E's tariffs and fuel adjustment clauses. On December 15, 2010, OG&E renewed the lease agreement effective February 1, 2011. At the end of the new lease term, which is February 1, 2016, OG&E has the option to either purchase the railcars at a stipulated fair market value or renew the lease. If OG&E chooses not to purchase the railcars or renew the lease agreement and the actual fair value of the railcars is less than the stipulated fair market value, OG&E would be responsible for the difference in those values up to a maximum of $22.8 million. OG&E is also required to maintain all of the railcars it has under the operating lease and has entered into an agreement with a non-affiliated company to furnish this maintenance. | ||||||||||||||||||||||
On January 11, 2012, OG&E executed a five-year lease agreement for 135 railcars to replace railcars that have been taken out of service or destroyed. OG&E has a unilateral right to terminate this lease upon a 6-month notice effective April 2015 and April 2016. | ||||||||||||||||||||||
OG&E Wind Farm Land Lease Agreements | ||||||||||||||||||||||
OG&E has wind farm land operating leases for its Centennial, OU Spirit and Crossroads wind farms expiring at various dates. The Centennial lease has rent escalations which increase annually based on the Consumer Price Index. The OU Spirit and Crossroads leases have rent escalations which increase after five and 10 years. Although the leases are cancellable, OG&E is required to make annual lease payments as long as the wind turbines are located on the land. OG&E does not expect to terminate the leases until the wind turbines reach the end of their economic life. | ||||||||||||||||||||||
OGE Energy Noncancellable Operating Lease | ||||||||||||||||||||||
On August 29, 2012, OGE Energy executed a five-year lease agreement for office space from September 1, 2013 to August 31, 2018. This lease has rent escalations which increase after five-years and allows for leasehold improvements. | ||||||||||||||||||||||
OGE Holdings Noncancellable Operating Lease | ||||||||||||||||||||||
As a result of the formation of Enable Midstream Partners on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company has no obligations included in its Consolidated Financial Statements at December 31, 2013 under OGE Holdings' noncancellable lease obligations previously disclosed in the Company's 2012 Form 10-K. | ||||||||||||||||||||||
Other Purchase Obligations and Commitments | ||||||||||||||||||||||
The Company's other future purchase obligations and commitments estimated for the next five years are as follows: | ||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||
Other purchase obligations and commitments | ||||||||||||||||||||||
Cogeneration capacity and fixed operation and maintenance payments | $ | 85.1 | $ | 82.7 | $ | 81.9 | $ | 79.6 | $ | 77 | $ | 406.3 | ||||||||||
Expected cogeneration energy payments | 61.1 | 60.9 | 75.7 | 81.5 | 87.4 | 366.6 | ||||||||||||||||
Minimum fuel purchase commitments | 451.8 | 451.8 | 368.5 | 385.1 | — | 1,657.20 | ||||||||||||||||
Expected wind purchase commitments | 58 | 58.9 | 59.8 | 60.8 | 59.5 | 297 | ||||||||||||||||
Long-term service agreement commitments | 70.5 | 2.8 | 2.5 | 2.6 | 19.1 | 97.5 | ||||||||||||||||
Total other purchase obligations and commitments | $ | 726.5 | $ | 657.1 | $ | 588.4 | $ | 609.6 | $ | 243 | $ | 2,824.60 | ||||||||||
Public Utility Regulatory Policy Act of 1978 | ||||||||||||||||||||||
At December 31, 2013, OG&E has QF contracts having terms of 15 to 32 years. These contracts were entered into pursuant to the Public Utility Regulatory Policy Act of 1978. Stated generally, the Public Utility Regulatory Policy Act of 1978 and the regulations thereunder promulgated by the FERC require OG&E to purchase power generated in a manufacturing process from a QF. The rate for such power to be paid by OG&E was approved by the OCC. The rate generally consists of two components: one is a rate for actual electricity purchased from the QF by OG&E; the other is a capacity charge, which OG&E must pay the QF for having the capacity available. However, if no electrical power is made available to OG&E for a period of time (generally three months), OG&E's obligation to pay the capacity charge is suspended. The total cost of cogeneration payments is recoverable in rates from customers. For the 320 MW AES-Shady Point, Inc. QF contract and the 120 MW PowerSmith Cogeneration Project, L.P. QF contract, OG&E purchases 100 percent of the electricity generated by the QFs. | ||||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, OG&E made total payments to cogenerators of $134.8 million, $135.1 million and $140.7 million, respectively, of which $74.4 million, $77.1 million and $78.0 million, respectively, represented capacity payments. All payments for purchased power, including cogeneration, are included in the Consolidated Statements of Income as Cost of Sales. | ||||||||||||||||||||||
OG&E Minimum Fuel Purchase Commitments | ||||||||||||||||||||||
OG&E purchased necessary fuel supplies of coal and natural gas for its generating units of $657.3 million, $585.6 million and $647.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. OG&E has coal contracts for purchases from through December 2016. OG&E has entered into multiple month term natural gas contracts for 31.5 percent of its 2014 annual forecasted natural gas requirements. Additional gas supplies to fulfill OG&E's remaining 2014 natural gas requirements will be acquired through additional requests for proposal in early to mid-2014, along with monthly and daily purchases, all of which are expected to be made at market prices. | ||||||||||||||||||||||
OG&E Wind Purchase Commitments | ||||||||||||||||||||||
OG&E's current wind power portfolio includes: (i) the 120 MW Centennial wind farm, (ii) the 101 MW OU Spirit wind farm, (iii) the 227.5 MW Crossroads wind farm, (iv) access to up to 50 MWs of electricity generated at a wind farm near Woodward, Oklahoma from a 15-year contract OG&E entered into with FPL Energy that expires in 2018, (v) access to up to 150 MWs of electricity generated at a wind farm in Woodward County, Oklahoma from a 20-year contract OG&E entered into with CPV Keenan that expires in 2030, (vi) access to up to 130 MWs of electricity generated at a wind farm in Dewey County, Oklahoma from a 20-year contract OG&E entered into with Edison Mission Energy that expires in 2030 and (vii) access to up to 60 MWs of electricity generated at a wind farm near Blackwell, Oklahoma from a 20-year contract OG&E entered into with NextEra Energy that expires in 2032. | ||||||||||||||||||||||
The following table summarizes OG&E's wind power purchases for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||
CPV Keenan | $ | 30.9 | $ | 25.1 | $ | 24.5 | ||||||||||||||||
Edison Mission Energy | 20.6 | 20.2 | 8.5 | |||||||||||||||||||
FPL Energy | 3.3 | 3.4 | 3.7 | |||||||||||||||||||
NextEra Energy | 7.2 | 0.8 | — | |||||||||||||||||||
Total wind power purchased | $ | 62 | $ | 49.5 | $ | 36.7 | ||||||||||||||||
OG&E Long-Term Service Agreement Commitments | ||||||||||||||||||||||
OG&E has a long-term parts and service maintenance contract for the upkeep of the McClain Plant. The existing contract will expire on January 1, 2015. In May 2013, a new contract was signed that is expected to run for the earlier of 128,000 factored-fired hours or 3,600 factored-fired starts. Based on historical usage and current expectations for future usage, this contract is expected to run until 2030. The contract requires payments based on both a fixed and variable cost component, depending on how much the McClain Plant is used. | ||||||||||||||||||||||
OG&E has a long-term parts and service maintenance contract for the upkeep of the Redbud Plant. In March 2013, the contract was amended to extend the contract coverage for an additional 24,000 factored-fired hours resulting in a maximum of the earlier of 144,000 factored-fired hours or 4,500 factored-fired starts. Based on historical usage and current expectations for future usage, this contract is expected to run until 2031. The contract requires payments based on both a fixed and variable cost component, depending on how much the Redbud Plant is used. | ||||||||||||||||||||||
Enogex Energy Resources LLC Commitments | ||||||||||||||||||||||
As a result of the formation of Enable on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company has no obligations included in its Consolidated Financial Statements at December 31, 2013 under OGE Holdings' noncancellable lease obligations previously disclosed in the Company's 2012 Form 10-K. | ||||||||||||||||||||||
OG&E Wind Energy Purchased Power Lawsuit | ||||||||||||||||||||||
In 2009, OG&E entered into a wind energy purchase power agreement with CPV Keenan for the purchase of all the energy output from its 150 MW wind farm in Woodward County, Oklahoma. In August of 2013, CPV Keenan filed suit against OG&E for the non-payment of curtailment charges. In December 2013, the Company settled its current case with CPV Keenan and recorded additional purchased power expense of $4.3 million, which will be recovered through the fuel adjustment clause. | ||||||||||||||||||||||
Enable Gas Transportation and Storage Agreement | ||||||||||||||||||||||
OG&E contracts with Enable for gas transportation and storage services. The stated term of this contract expired April 30, 2009, but remained in effect from year-to-year thereafter. On January 31, 2014, in anticipation of entering into a new, five-year contract, OG&E provided written notice of termination of the contract, effective April 30, 2014. Negotiations regarding the new contract are ongoing, and there can be no assurance that the new contract will be agreed upon, or if agreed upon, that the terms of the new contract will be as favorable to us as the expiring contract. | ||||||||||||||||||||||
Environmental Laws and Regulations | ||||||||||||||||||||||
The activities of OG&E are subject to stringent and complex Federal, state and local laws and regulations governing environmental protection relating to air quality, water quality, waste management, wildlife conservation and natural resources. These laws and regulations can restrict or impact business activities in many ways, such as restricting the way it can handle or dispose of its wastes, requiring remedial action to mitigate environmental issues that may be caused by its operations or that are attributable to former operators, requiring changes in operations and requiring the installation and operation of pollution control equipment. Failure to comply with these laws and regulations could result in the assessment of administrative, civil and criminal penalties, the imposition of remedial requirements and the issuance of orders enjoining future operations. | ||||||||||||||||||||||
Environmental regulation can increase the cost of planning, design, initial installation and operation of OG&E's facilities. Historically, OG&E's total expenditures for environmental control facilities and for remediation have not been significant in relation to its consolidated financial position or results of operations. The Company believes, however, that it is reasonably likely that the trend in environmental legislation and regulations will continue towards more restrictive standards. Compliance with these standards is expected to increase the cost of conducting business. Management continues to evaluate its compliance with existing and proposed environmental legislation and regulations and implement appropriate environmental programs in a competitive market. | ||||||||||||||||||||||
OG&E is managing several significant uncertainties about the scope and timing for the acquisition, installation and operation of additional pollution control equipment and compliance costs for a variety of the EPA rules that are being challenged in court. OG&E is unable to predict the financial impact of these matters with certainty at this time. See "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Environmental Laws and Regulations" for a discussion of the Company's environmental matters. | ||||||||||||||||||||||
Federal Clean Air Act New Source Review Litigation | ||||||||||||||||||||||
As previously reported, in July 2008, OG&E received a request for information from the EPA regarding Federal Clean Air Act compliance at OG&E's Muskogee and Sooner generating plants. In recent years, the EPA has issued similar requests to numerous other electric utilities seeking to determine whether various maintenance, repair and replacement projects should have required permits under the Federal Clean Air Act's new source review process. In January 2012, OG&E received a supplemental request for an update of the previously provided information and for some additional information not previously requested. On May 1, 2012, OG&E responded to the EPA's supplemental request for information. On April 26, 2011, the EPA issued a notice of violation alleging that 13 projects occurred at OG&E's Muskogee and Sooner generating plants between 1993 and 2006 without the required new source review permits. The notice of violation also alleges that OG&E's visible emissions at its Muskogee and Sooner generating plants are not in accordance with applicable new source performance standards. | ||||||||||||||||||||||
In March 2013, the DOJ informed OG&E that it was prepared to initiate enforcement litigation concerning the matters identified in the notice of violation. OG&E subsequently met with EPA and DOJ representatives regarding the notice of violation and proposals for resolving the matter without litigation. On July 8, 2013, the United States, at the request of the EPA, filed a complaint for declaratory relief against OG&E in United States District Court for the Western District of Oklahoma (Case No. CIV-13-690-D) alleging that OG&E did not follow the Federal Clean Air Act procedures for projecting emission increases attributable to eight projects that occurred between 2003 and 2006. This complaint seeks to have OG&E submit a new assessment of whether the projects were likely to result in a significant emissions increase. The Sierra Club has intervened in this proceeding and has asserted claims for declaratory relief that are similar to those requested by the United States. OG&E expects to vigorously defend against these claims, but OG&E cannot predict the outcome of such litigation. On August 12, 2013, the Sierra Club filed a complaint against OG&E in the United States District Court for the Eastern District of Oklahoma (Case No. 13-CV-00356) alleging that OG&E modifications made at Unit 6 of the Muskogee generating plant in 2008 were made without obtaining a prevention of significant deterioration permit and that the plant has exceeded emissions limits for opacity and particulate matter. The Sierra Club seeks a permanent injunction preventing OG&E from operating the Muskogee generating plant. At this time, OG&E continues to believe that it has acted in compliance with the Federal Clean Air Act. | ||||||||||||||||||||||
If OG&E does not prevail in these proceedings and if a new assessment of the projects were to conclude that they caused a significant emissions increase, the EPA and the Sierra Club could seek to require OG&E to install additional pollution control equipment, including scrubbers, baghouses and selective catalytic reduction systems with capital costs in excess of $1.0 billion and pay fines and significant penalties as a result of the allegations in the notice of violation. Section 113 of the Federal Clean Air Act (along with the Federal Civil Penalties Inflation Adjustment Act of 1996) provides for civil penalties as much as $37,500 per day for each violation. The cost of any required pollution control equipment could also be significant. OG&E cannot predict at this time whether it will be legally required to incur any of these costs. | ||||||||||||||||||||||
Other | ||||||||||||||||||||||
In the normal course of business, the Company is confronted with issues or events that may result in a contingent liability. These generally relate to lawsuits or claims made by third parties, including governmental agencies. When appropriate, management consults with legal counsel and other appropriate experts to assess the claim. If, in management's opinion, the Company has incurred a probable loss as set forth by GAAP, an estimate is made of the loss and the appropriate accounting entries are reflected in the Company's Consolidated Financial Statements. At the present time, based on currently available information, except as otherwise stated above, in Note 16 below, in Item 3 of Part I and under "Environmental Laws and Regulations" in Item 7 of Part II of this Form 10-K, the Company believes that any reasonably possible losses in excess of accrued amounts arising out of pending or threatened lawsuits or claims would not be quantitatively material to its financial statements and would not have a material adverse effect on the Company's consolidated financial position, results of operations or cash flows. |
Rate_Matters_and_Regulation
Rate Matters and Regulation | 12 Months Ended |
Dec. 31, 2013 | |
Regulated Operations [Abstract] | ' |
Rate Matters and Regulation | ' |
Rate Matters and Regulation | |
Regulation and Rates | |
OG&E's retail electric tariffs are regulated by the OCC in Oklahoma and by the APSC in Arkansas. The issuance of certain securities by OG&E is also regulated by the OCC and the APSC. OG&E's wholesale electric tariffs, transmission activities, short-term borrowing authorization and accounting practices are subject to the jurisdiction of the FERC. The Secretary of the U.S. Department of Energy has jurisdiction over some of OG&E's facilities and operations. In 2013, 85 percent of OG&E's electric revenue was subject to the jurisdiction of the OCC, eight percent to the APSC and seven percent to the FERC. | |
The OCC issued an order in 1996 authorizing OG&E to reorganize into a subsidiary of OGE Energy. The order required that, among other things, (i) OGE Energy permit the OCC access to the books and records of OGE Energy and its affiliates relating to transactions with OG&E, (ii) OGE Energy employ accounting and other procedures and controls to protect against subsidization of non-utility activities by OG&E's customers and (iii) OGE Energy refrain from pledging OG&E assets or income for affiliate transactions. In addition, the Energy Policy Act of 2005 enacted the Public Utility Holding Company Act of 2005, which in turn granted to the FERC access to the books and records of OGE Energy and its affiliates as the FERC deems relevant to costs incurred by OG&E or necessary or appropriate for the protection of utility customers with respect to the FERC jurisdictional rates. | |
Completed Regulatory Matters | |
Crossroads Wind Farm | |
As previously reported, OG&E signed memoranda of understanding in February 2010 for approximately 197.8 megawatts of wind turbine generators and certain related balance of plant engineering, procurement and construction services associated with the Crossroads wind farm. Also as part of this project, on June 16, 2011, OG&E entered into an interconnection agreement with the SPP for the Crossroads wind farm which allowed the Crossroads wind farm to interconnect at 227.5 megawatts. On August 31, 2012, OG&E filed an application with the APSC requesting approval to recover the Arkansas portion of the costs of the Crossroads wind farm through a rider until such costs are included in OG&E's base rates as part of its next general rate proceeding. On April 15, 2013, the APSC issued an order authorizing OG&E to recover the Arkansas portion of the cost to construct the Crossroads wind farm, effective retroactively to August 1, 2012. The costs are being recovered through the Energy Cost Recovery Rider. | |
Fuel Adjustment Clause Review for Calendar Year 2011 | |
The OCC routinely reviews the costs recovered from customers through OG&E’s fuel adjustment clause. On July 31, 2012, the OCC Staff filed an application for a public hearing to review and monitor OG&E's application of the 2011 fuel adjustment clause and for a prudence review of OG&E's electric generation, purchased power and fuel procurement processes and costs in calendar year 2011. OG&E filed information and documents in response to the OCC's application on October 1, 2012. On December 19, 2012, witnesses for the OCC Staff filed responsive testimony recommending that the OCC approve OG&E's fuel adjustment clause costs and recoveries for the calendar year 2011 and recommending that the OCC find that OG&E's electric generation, purchased power, fuel procurement and other fuel related practices, policies and decisions during calendar year 2011 were fair, just and reasonable and prudent. On April 9, 2013, the OCC administrative law judge recommended that the OCC find that for the calendar year 2011 OG&E's electric generation, purchased power and fuel procurement processes and costs were prudent. On June 18, 2013, the OCC issued an order approving the administrative law judge’s recommendation. | |
Pending Regulatory Matters | |
FERC Order No. 1000, Final Rule on Transmission Planning and Cost Allocation | |
On July 21, 2011, the FERC issued Order No. 1000, which revised the FERC's existing regulations governing the process for planning enhancements and expansions of the electric transmission grid in a particular region, along with the corresponding process for allocating the costs of such expansions. Order No. 1000 leaves to individual regions to determine whether a previously-approved project is subject to reevaluation and is therefore governed by the new rule. | |
Order No. 1000 requires, among other things, public utility transmission providers, such as the SPP, to participate in a process that produces a regional transmission plan satisfying certain standards, and requires that each such regional process consider transmission needs driven by public policy requirements (such as state or Federal policies favoring increased use of renewable energy resources). Order No. 1000 also directs public utility transmission providers to coordinate with neighboring transmission planning regions. In addition, Order No. 1000 establishes specific regional cost allocation principles and directs public utility transmission providers to participate in regional and interregional transmission planning processes that satisfy these principles. | |
On the issue of determining how entities are to be selected to develop and construct the specific transmission projects, Order No. 1000 directs public utility transmission providers to remove from the FERC-jurisdictional tariffs and agreements provisions that establish any Federal "right of first refusal" for the incumbent transmission owner (such as OG&E) regarding transmission facilities selected in a regional transmission planning process, subject to certain limitations. However, Order No. 1000 is not intended to affect the right of an incumbent transmission owner (such as OG&E) to build, own and recover costs for upgrades to its own transmission facilities, and Order No. 1000 does not alter an incumbent transmission owner's use and control of existing rights of way. Order No. 1000 also clarifies that incumbent transmission owners may rely on regional transmission facilities to meet their reliability needs or service obligations. The SPP currently has a "right of first refusal" for incumbent transmission owners and this provision has played a role in OG&E being selected by the SPP to build various transmission projects in Oklahoma. These changes to the "right of first refusal" apply only to "new transmission facilities," which are described as those subject to evaluation or reevaluation (under the applicable local or regional transmission planning process) subsequent to the effective date of the regulatory compliance filings required by the rule, which were filed on November 13, 2012. On May 29, 2013, the Governor signed House Bill 1932 into law which establishes a right of first refusal for Oklahoma incumbent transmission owners, including OG&E, to build new transmission projects with voltages under 300 kilovolts that interconnect to those incumbent entities' existing facilities. OG&E believes this law is consistent with the language of Order No. 1000. | |
On July 18, 2013, the FERC issued an order on the SPP's Order No. 1000 compliance filing. This order accepted in part and rejected in part the SPP's plan for complying with Order No. 1000. The FERC rejected the SPP's plan to retain the right of first refusal for projects that would operate between 100 kilovolts and 300 kilovolts. However, the FERC clarified that a right of first refusal was appropriate in certain circumstances. It is not clear how the FERC's order will relate to the recently enacted Oklahoma law addressing a right of first refusal for lower voltages. On November 15, 2013, SPP made its FERC compliance filing, as required by the July 18, 2013 order. The SPP changes to its tariff and Membership Agreement included provisions that (i) clarify that facilities between 100 kilovolts and 300 kilovolts would be subject to the competitive selection process, (ii) only allow certain evidence, such as state laws (like House Bill 1932) and the holders of existing rights of way, to be considered during the competitive selection process and not earlier in the process; (iii) apply a right of first refusal to transmission projects needed for reliability within three years in certain situations; and (iv) revise the tariff’s competitive selection process, including changes to the criteria for identifying qualifying transmission owners, the requirements for submission of information by transmission owners seeking to participate in competitive selections, and the procedures that govern the competitive selection process. | |
OGE Energy cannot, at this time, determine the precise impact of Order No. 1000 on OG&E. OG&E has filed a petition for review in the D.C. Circuit relating to the same matter. Nevertheless, at the present time, OGE Energy has no reason to believe that the implementation of Order No. 1000 will impact OG&E's transmission projects currently under development and construction for which OG&E has received a notice to proceed from the SPP. | |
Fuel Adjustment Clause Review for Calendar Year 2012 | |
On July 31, 2013, the OCC Staff filed an application to review OG&E's fuel adjustment clause for calendar year 2012, including the prudence of OG&E's electric generation, purchased power and fuel procurement costs. OG&E filed the necessary information and documents needed to satisfy the OCC's minimum filing requirement rules on October 9, 2013. A hearing on this matter is scheduled for April 24, 2014. | |
Request for Modification to Previous Orders | |
On August 2, 2013, OG&E filed an application at the OCC seeking to make minor modifications to three previous OCC orders. The purpose of the application was to address the timing of certain requirements contained in those orders. OG&E's application proposed to address these issues in OG&E's next general rate case thus avoiding the cost associated with a rate case filing now and benefiting customers by deferring the recovery of certain costs identified in the previous orders. On September 3, 2013, the PUD Staff filed a motion to dismiss OG&E's application. PUD Staff requested that the OCC dismiss OG&E's application and issue an order requiring OG&E to file a rate case for the 2012 test year. | |
On September 11, 2013, the PUD Staff withdrew their motion to dismiss OG&E's application and on September 12, 2013, filed an application requesting a public hearing, review and possible adjustment of the rates and charges of OG&E based on the 2012 test year. To date, no procedural schedule has been established for either the OG&E application or the PUD Staff application. | |
Energy Efficiency Program Filing | |
On October 9, 2013 OG&E filed an application with the APSC requesting approval of interim modifications to approved Energy Efficiency Programs, new tariff revisions and the waiver of certain provisions of the Commission’s Rules for Conservation and Energy Efficiency Programs. | |
Market-Based Rate Authority | |
On June 29, 2012, OG&E filed its triennial market power update with the FERC to retain its market-based rate authorization in the SPP's energy imbalance service market but to surrender its market-based rate authorization for any market-based rates sales outside of the SPP's energy imbalance service market. On May 2, 2013, the FERC issued an order accepting OG&E's June 2012 triennial market power update. | |
On December 30, 2013, OG&E submitted to the FERC a market-based rate change in status filing and a revised market-based rate tariff. The revised tariff will authorize OG&E to (i) sell electric energy and capacity at market-based rates without geographic restriction, and (ii) sell ancillary services in the SPP and Midcontinent Independent System Operator, Inc. markets. The primary goal of this filing was to implement the market-based rate authority OG&E needs to fully participate in SPP’s Integrated Marketplace. OG&E requested that FERC issue an order on or before February 28, 2014 that accepts the revised market-based rate tariff to be effective on the date SPP’s Integrated Marketplace goes into operation, which is expected to be March 1, 2014. | |
Section 206 Complaint | |
On November 26, 2013, Arkansas Electric Cooperative Corporation filed a complaint at the FERC against OG&E, arguing that the wholesale formula rate contract between OG&E and Arkansas Electric Cooperative Corporation (formerly between OG&E and Arkansas Valley Electric Cooperative) is unjust and unreasonable with respect to several items. After engaging in settlement discussions, OG&E and Arkansas Electric Cooperative Corporation have tentatively agreed to terms of a settlement and are jointly preparing an offer of settlement to be filed with FERC. OG&E believes the reduction in revenue will be less than $1.0 million per year. |
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | |||||||||||||||||
Due to the seasonal fluctuations and other factors of the Company's businesses, the operating results for interim periods are not necessarily indicative of the results that may be expected for the year. In the Company's opinion, the following quarterly financial data includes all adjustments, consisting of normal recurring adjustments, necessary to fairly present such amounts. Summarized consolidated quarterly unaudited financial data is as follows: | |||||||||||||||||
Quarter ended (In millions, except per share data) | 31-Mar | 30-Jun | 30-Sep | 31-Dec | Total | ||||||||||||
Operating revenues | 2013 | $ | 901.4 | $ | 734.2 | $ | 723.2 | $ | 508.9 | $ | 2,867.70 | ||||||
2012 | $ | 840.7 | $ | 855 | $ | 1,113.40 | $ | 862.1 | $ | 3,671.20 | |||||||
Operating income | 2013 | $ | 75.4 | $ | 143.9 | $ | 260.9 | $ | 73.3 | $ | 553.5 | ||||||
2012 | $ | 98.3 | $ | 177.3 | $ | 304 | $ | 97.3 | $ | 676.9 | |||||||
Net income | 2013 | $ | 28 | $ | 93 | $ | 215.2 | $ | 57.6 | $ | 393.8 | ||||||
2012 | $ | 47.5 | $ | 101.6 | $ | 192.4 | $ | 43.5 | $ | 385 | |||||||
Net income attributable to OGE Energy | 2013 | $ | 23.1 | $ | 91.7 | $ | 215.2 | $ | 57.6 | $ | 387.6 | ||||||
2012 | $ | 37.1 | $ | 93.9 | $ | 185.5 | $ | 38.5 | $ | 355 | |||||||
Basic earnings per average common share attributable to OGE Energy common shareholders (A) | 2013 | $ | 0.12 | $ | 0.46 | $ | 1.08 | $ | 0.29 | $ | 1.96 | ||||||
2012 | $ | 0.19 | $ | 0.48 | $ | 0.94 | $ | 0.19 | $ | 1.8 | |||||||
Diluted earnings per average common share attributable to OGE Energy common shareholders (A) | 2013 | $ | 0.12 | $ | 0.46 | $ | 1.08 | $ | 0.29 | $ | 1.94 | ||||||
2012 | $ | 0.19 | $ | 0.47 | $ | 0.94 | $ | 0.19 | $ | 1.79 | |||||||
(A) | Due to the impact of dilution on the earnings per share calculation, quarterly earnings per share amounts may not add to the total. |
Schedule_II_Notes
Schedule II (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||
OGE ENERGY CORP. | |||||||||||||
SCHEDULE II - Valuation and Qualifying Accounts | |||||||||||||
Additions | |||||||||||||
Description | Balance at Beginning of Period | Charged to Costs and Expenses | Deductions (A) | Balance at End of Period | |||||||||
(In millions) | |||||||||||||
Balance at December 31, 2011 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 1.9 | $ | 5.8 | $ | 3.9 | $ | 3.8 | |||||
Balance at December 31, 2012 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 3.8 | $ | 3.3 | $ | 4.5 | $ | 2.6 | |||||
Balance at December 31, 2013 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 2.6 | $ | 2.5 | $ | 3.2 | $ | 1.9 | |||||
(A) | Uncollectible accounts receivable written off, net of recoveries. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||||||
Organization | |||||||||||||
The Company is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company conducts these activities through two business segments: (i) electric utility and (ii) natural gas midstream operations. For a discussion of the change in the Company’s business segments due to the formation of Enable, see Note 14. For periods prior to May 1, 2013, the Company consolidated Enogex Holdings in its Condensed Consolidated Financial Statements. All significant intercompany transactions have been eliminated in consolidation. | |||||||||||||
Effective May 1, 2013, OGE Energy, the ArcLight group and CenterPoint Energy, Inc., formed Enable Midstream Partners, LP to own and operate the midstream businesses of OGE Energy and CenterPoint. In the formation transaction, OGE Energy and ArcLight group contributed Enogex LLC to Enable and the Company deconsolidated its previously held investment in Enogex Holdings and acquired an equity interest in Enable. The Company determined that its contribution of Enogex LLC to Enable met the requirements of being in substance real estate and was recorded at historical cost. The general partner of Enable is equally controlled by CenterPoint and OGE Energy, who each have 50 percent of the management rights. Based on the 50/50 management ownership, with neither company having control, effective May 1, 2013, OGE Energy began accounting for its interest in Enable using the equity method of accounting. At December 31, 2013, OGE Energy, through its wholly owned subsidiary OGE Holdings, holds 28.5 percent of the limited partner interests in Enable. OGE Energy also owns a 60 percent interest in any incentive distribution rights in Enable. Incentive distribution rights are expected to entitle the holder to increasing percentages, up to a maximum of 50 percent, of the cash distributed by Enable in excess of the target quarterly distributions to be set in connection with Enable’s initial public offering. On November 26, 2013, Enable filed a registration statement on Form S-1 related to the proposed initial public offering of limited partnership interests that will have the effect of making Enable a publicly traded master limited partnership. | |||||||||||||
The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through OG&E and are subject to regulation by the OCC, the APSC and the FERC. OG&E was incorporated in 1902 under the laws of the Oklahoma Territory. OG&E is the largest electric utility in Oklahoma and its franchised service territory includes the Fort Smith, Arkansas area. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business. | |||||||||||||
The natural gas midstream operations segment consists of the Company's investment in Enable. Enable is engaged in the business of gathering, processing, transporting and storing natural gas. Enable's natural gas gathering and processing assets are strategically located in four states and serve natural gas production from shale developments in the Anadarko, Arkoma and Ark-La-Tex basins. Enable also owns an emerging crude oil gathering business in the Bakken shale formation that commenced initial operations in November 2013. Enable is continuing to construct additional crude oil gathering capacity in this area. Enable's natural gas transportation and storage assets extend from western Oklahoma and the Texas Panhandle to Alabama and from Louisiana to Illinois. | |||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||||
Basis of Presentation | |||||||||||||
In the opinion of management, all adjustments necessary to fairly present the consolidated financial position of the Company at December 31, 2013 and 2012 and the results of its operations and cash flows for the years ended December 31, 2013, 2012 and 2011, have been included and are of a normal recurring nature except as otherwise disclosed. | |||||||||||||
Public Utilities, Policy [Policy Text Block] | ' | ||||||||||||
Accounting Records | |||||||||||||
The accounting records of OG&E are maintained in accordance with the Uniform System of Accounts prescribed by the FERC and adopted by the OCC and the APSC. Additionally, OG&E, as a regulated utility, is subject to accounting principles for certain types of rate-regulated activities, which provide that certain actual or anticipated costs that would otherwise be charged to expense can be deferred as regulatory assets, based on the expected recovery from customers in future rates. Likewise, certain actual or anticipated credits that would otherwise reduce expense can be deferred as regulatory liabilities, based on the expected flowback to customers in future rates. Management's expected recovery of deferred costs and flowback of deferred credits generally results from specific decisions by regulators granting such ratemaking treatment. | |||||||||||||
OG&E records certain actual or anticipated costs and obligations as regulatory assets or liabilities if it is probable, based on regulatory orders or other available evidence, that the cost or obligation will be included in amounts allowable for recovery or refund in future rates. | |||||||||||||
Management continuously monitors the future recoverability of regulatory assets. When in management's judgment future recovery becomes impaired, the amount of the regulatory asset is adjusted, as appropriate. If OG&E were required to discontinue the application of accounting principles for certain types of rate-regulated activities for some or all of its operations, it could result in writing off the related regulatory assets, which could have significant financial effects. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||
Use of Estimates | |||||||||||||
In preparing the Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Changes to these assumptions and estimates could have a material effect on the Company's Consolidated Financial Statements. However, the Company believes it has taken reasonable positions where assumptions and estimates are used in order to minimize the negative financial impact to the Company that could result if actual results vary from the assumptions and estimates. In management's opinion, the areas of the Company where the most significant judgment is exercised for all Company segments includes the determination of Pension Plan assumptions, impairment estimates of long-lived assets (including intangible assets), income taxes, contingency reserves, asset retirement obligations and assets and depreciable lives of property, plant and equipment. For the electric utility segment, the most significant judgment is also exercised in the existence of regulatory assets and liabilities and unbilled revenues. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
For purposes of the Consolidated Financial Statements, the Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. | |||||||||||||
Allowance for Uncollectible Accounts Receivable, Policy | ' | ||||||||||||
For OG&E, customer balances are generally written off if not collected within six months after the final billing date. The allowance for uncollectible accounts receivable for OG&E is calculated by multiplying the last six months of electric revenue by the provision rate. The provision rate is based on a 12-month historical average of actual balances written off. To the extent the historical collection rates are not representative of future collections, there could be an effect on the amount of uncollectible expense recognized. Also, a portion of the uncollectible provision related to fuel within the Oklahoma jurisdiction is being recovered through the fuel adjustment clause. The allowance for uncollectible accounts receivable was $1.9 million and $2.6 million at December 31, 2013 and 2012, respectively. | |||||||||||||
For OG&E, new business customers are required to provide a security deposit in the form of cash, bond or irrevocable letter of credit that is refunded when the account is closed. New residential customers, whose outside credit scores indicate an elevated risk, are required to provide a security deposit that is refunded based on customer protection rules defined by the OCC and the APSC. The payment behavior of all existing customers is continuously monitored and, if the payment behavior indicates sufficient risk within the meaning of the applicable utility regulation, customers will be required to provide a security deposit. | |||||||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||||||
Fuel Inventories | |||||||||||||
Fuel inventories for the generation of electricity consist of coal, natural gas and oil. OG&E uses the weighted-average cost method of accounting for inventory that is physically added to or withdrawn from storage or stockpiles. The amount of fuel inventory was $74.4 million and $76.8 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Gas Imbalances, Policy [Policy Text Block] | ' | ||||||||||||
Gas Imbalances | |||||||||||||
Gas imbalances occur when the actual amounts of natural gas delivered from or received by OG&E differ from the amounts scheduled to be delivered or received. OG&E values all imbalances at an average of current market indices applicable to OG&E's operations, not to exceed net realizable value. | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||
Property, Plant and Equipment | |||||||||||||
All property, plant and equipment is recorded at cost. Newly constructed plant is added to plant balances at cost which includes contracted services, direct labor, materials, overhead, transportation costs and the allowance for funds used during construction. Replacements of units of property are capitalized as plant. For assets that belong to a common plant account, the replaced plant is removed from plant balances and the cost of such property is charged to Accumulated Depreciation. For assets that do not belong to a common plant account, the replaced plant is removed from plant balances with the related accumulated depreciation and the remaining balance net of any salvage proceeds is recorded as a loss in the Consolidated Statements of Income as Other Expense. Repair and replacement of minor items of property are included in the Consolidated Statements of Income as Other Operation and Maintenance Expense. | |||||||||||||
Depreciation and Amortization, Policy [Policy Text Block] | ' | ||||||||||||
Depreciation and Amortization | |||||||||||||
The provision for depreciation, which was 2.8 percent and 3.0 percent, respectively, of the average depreciable utility plant for 2013 and 2012, is provided on a straight-line method over the estimated service life of the utility assets. Depreciation is provided at the unit level for production plant and at the account or sub-account level for all other plant, and is based on the average life group method. In 2014, the provision for depreciation is projected to be 2.8 percent of the average depreciable utility plant. Amortization of intangible assets is computed using the straight-line method. Of the remaining amortizable intangible plant balance at December 31, 2013, 93.5 percent will be amortized over 9 years with 6.5 percent of the remaining amortizable intangible plant balance at December 31, 2013 being amortized over 26 years.. Amortization of plant acquisition adjustments is provided on a straight-line basis over the estimated remaining service life of the acquired asset. Plant acquisition adjustments include $148.3 million for the Redbud Plant, which are being amortized over a 27-year life and $3.3 million for certain substation facilities in OG&E's service territory, which are being amortized over a 26 to 59-year period. | |||||||||||||
Equity Method Investments, Policy [Policy Text Block] | ' | ||||||||||||
Investment in Unconsolidated Affiliate | |||||||||||||
OGE Energy's investment in Enable is considered to be a variable interest entity because the owners of the equity at risk in this entity have disproportionate voting rights in relation to their obligations to absorb the entity's expected losses or to receive its expected residual returns. However, OGE Energy is not considered the primary beneficiary of Enable since it does not have the power to direct the activities of Enable that are considered most significant to the economic performance of Enable. As discussed above, OGE Energy accounts for the investment in Enable using the equity method of accounting. Under the equity method, the investment will be adjusted each period for contributions made, distributions received and the Company's share of the investee's comprehensive income. OGE Energy's maximum exposure to loss related to Enable is limited to OGE Energy's equity investment in Enable as presented on the Company's Consolidated Balance Sheet at December 31, 2013. The Company evaluates its equity method investments for impairment when events or changes in circumstances indicate there is a loss in value of the investment that is other than a temporary decline. | |||||||||||||
The Company considers distributions received from its unconsolidated affiliates which do not exceed cumulative equity in earnings subsequent to the date of investment to be a return on investment which are classified as operating activities in the Consolidated Statements of Cash Flows. The Company considers distributions received from its unconsolidated affiliates in excess of cumulative equity in earnings subsequent to the date of investment to be a return of investment which are classified as investing activities in the Consolidated Statements of Cash Flows. | |||||||||||||
Asset Retirement Obligations, Policy [Policy Text Block] | ' | ||||||||||||
Asset Retirement Obligations | |||||||||||||
The Company has previously recorded asset retirement obligations that are being amortized over their respective lives ranging from 20 to 74 years. | |||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | ||||||||||||
Assessing Impairment of Long-Lived Assets (Including Intangible Assets) and Goodwill | |||||||||||||
As a result of the formation of Enable Midstream Partners on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company no longer has intangible assets or goodwill. | |||||||||||||
The Company assesses its long-lived assets (inclusive of definite-lived intangible assets prior to the deconsolidation of Enogex Holdings) for impairment when there is evidence that events or changes in circumstances require an analysis of the recoverability of an asset's carrying amount. Estimates of future cash flows used to test the recoverability of long-lived assets and intangible assets shall include only the future cash flows (cash inflows less associated cash outflows) that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset. The fair value of these assets is based on third-party evaluations, prices for similar assets, historical data and projected cash flows. An impairment loss is recognized when the sum of the expected future net cash flows is less than the carrying amount of the asset. The amount of any recognized impairment is based on the estimated fair value of the asset subject to impairment compared to the carrying amount of such asset. In 2011, the Company recorded a pre-tax impairment loss of $5.0 million, of which $2.5 million was the noncontrolling interest portion (see Note 4), related to the Atoka processing plant. The Company recorded no other material impairments in 2013, 2012 or 2011. | |||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||||
The Company assesses its long-lived assets (inclusive of definite-lived intangible assets prior to the deconsolidation of Enogex Holdings) for impairment when there is evidence that events or changes in circumstances require an analysis of the recoverability of an asset's carrying amount. Estimates of future cash flows used to test the recoverability of long-lived assets and intangible assets shall include only the future cash flows (cash inflows less associated cash outflows) that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset. The fair value of these assets is based on third-party evaluations, prices for similar assets, historical data and projected cash flows. An impairment loss is recognized when the sum of the expected future net cash flows is less than the carrying amount of the asset. The amount of any recognized impairment is based on the estimated fair value of the asset subject to impairment compared to the carrying amount of such asset. In 2011, the Company recorded a pre-tax impairment loss of $5.0 million, of which $2.5 million was the noncontrolling interest portion (see Note 4), related to the Atoka processing plant. The Company recorded no other material impairments in 2013, 2012 or 2011. | |||||||||||||
Allowance for Funds Used During Construction, Policy [Policy Text Block] | ' | ||||||||||||
Allowance for Funds Used During Construction | |||||||||||||
For OG&E, allowance for funds used during construction is calculated according to the FERC pronouncements for the imputed cost of equity and borrowed funds. Allowance for funds used during construction, a non-cash item, is reflected as an increase to net other income and a reduction to interest expense in the Consolidated Statements of Income and as an increase to Construction Work in Progress in the Consolidated Balance Sheets. Allowance for funds used during construction rates, compounded semi-annually, were 8.33 percent, 8.93 percent and 8.71 percent for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Collection of Sales Tax, Policy [Policy Text Block] | ' | ||||||||||||
Collection of Sales Tax | |||||||||||||
In the normal course of its operations, OG&E collects sales tax from its customers. OG&E records a current liability for sales taxes when it bills its customers and eliminates this liability when the taxes are remitted to the appropriate governmental authorities. OG&E excludes the sales tax collected from its operating revenues. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||
Revenue Recognition | |||||||||||||
General | |||||||||||||
OG&E reads its customers' meters and sends bills to its customers throughout each month. As a result, there is a significant amount of customers' electricity consumption that has not been billed at the end of each month. Unbilled revenue is presented in Accrued Unbilled Revenues on the Consolidated Balance Sheets and in Operating Revenues on the Consolidated Statements of Income based on estimates of usage and prices during the period. The estimates that management uses in this calculation could vary from the actual amounts to be paid by customers. | |||||||||||||
SPP Purchases and Sales | |||||||||||||
OG&E participates in the SPP energy imbalance service market in a dual role as a load serving entity and as a generation owner. The energy imbalance service market requires cash settlements for over or under schedules of generation and load. Market participants, including OG&E, are required to submit resource plans and can submit offer curves for each resource available for dispatch. A function of interchange accounting is to match participants' MWH entitlements (generation plus scheduled bilateral purchases) against their MWH obligations (load plus scheduled bilateral sales) during every hour of every day. If the net result during any given hour is an entitlement, the participant is credited with a spot-market sale to the SPP at the respective market price for that hour; if the net result is an obligation, the participant is charged with a spot-market purchase from the SPP at the respective market price for that hour. The SPP purchases and sales are not allocated to individual customers. OG&E records the hourly sales to the SPP at market rates in Operating Revenues and the hourly purchases from the SPP at market rates in Cost of Sales in its Consolidated Financial Statements. | |||||||||||||
Fuel Adjustment Clauses, Policy [Policy Text Block] | ' | ||||||||||||
Fuel Adjustment Clauses | |||||||||||||
Variances in the actual cost of fuel used in electric generation and certain purchased power costs, as compared to the fuel component included in the cost-of-service for ratemaking, are passed through to OG&E's customers through fuel adjustment clauses. The fuel adjustment clauses are subject to periodic review by the OCC, the APSC and the FERC. The OCC, the APSC and the FERC have authority to review the appropriateness of gas transportation charges or other fees OG&E pays to its affiliate, Enable. | |||||||||||||
Income Taxes, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
The Company files consolidated income tax returns in the U.S. Federal jurisdiction and various state jurisdictions. Income taxes are generally allocated to each company in the affiliated group based on its stand-alone taxable income or loss. Federal investment tax credits previously claimed on electric utility property have been deferred and are being amortized to income over the life of the related property. The Company uses the asset and liability method of accounting for income taxes. Under this method, a deferred tax asset or liability is recognized for the estimated future tax effects attributable to temporary differences between the financial statement basis and the tax basis of assets and liabilities as well as tax credit carry forwards and net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period of the change. The Company recognizes interest related to unrecognized tax benefits in interest expense and recognizes penalties in other expense. | |||||||||||||
Accrued Vacation, Policy [Policy Text Block] | ' | ||||||||||||
Accrued Vacation | |||||||||||||
The Company accrues vacation pay monthly by establishing a liability for vacation earned. Vacation may be taken as earned and is charged against the liability. At the end of each year, the liability represents the amount of vacation earned, but not taken. OGE employees can carryover no more than 80 hours to be used in future years. | |||||||||||||
Environmental Costs, Policy [Policy Text Block] | ' | ||||||||||||
Environmental Costs | |||||||||||||
Accruals for environmental costs are recognized when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Costs are charged to expense or deferred as a regulatory asset based on expected recovery from customers in future rates, if they relate to the remediation of conditions caused by past operations or if they are not expected to mitigate or prevent contamination from future operations. Where environmental expenditures relate to facilities currently in use, such as pollution control equipment, the costs may be capitalized and depreciated over the future service periods. Estimated remediation costs are recorded at undiscounted amounts, independent of any insurance or rate recovery, based on prior experience, assessments and current technology. Accrued obligations are regularly adjusted as environmental assessments and estimates are revised, and remediation efforts proceed. For sites where OG&E has been designated as one of several potentially responsible parties, the amount accrued represents OG&E's estimated share of the cost. The Company had $6.2 million and $5.8 million in accrued environmental liabilities at December 31, 2013 and 2012, respectively, which are included in the summary of asset retirement obligations above. | |||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value Measurements | |||||||||||||
The classification of the Company's fair value measurements requires judgment regarding the degree to which market data are observable or corroborated by observable market data. GAAP establishes a fair value hierarchy that prioritizes the inputs used to measure fair value based on observable and unobservable data. The hierarchy categorizes the inputs into three levels, with the highest priority given to quoted prices in active markets for identical unrestricted assets or liabilities (Level 1) and the lowest priority given to unobservable inputs (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three levels defined in the fair value hierarchy and examples of each are as follows: | |||||||||||||
Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible at the measurement date. Instruments classified as Level 1 include natural gas futures, swaps and options transactions for contracts traded on the NYMEX and settled through a NYMEX clearing broker. | |||||||||||||
Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Instruments classified as Level 2 include over-the-counter NYMEX natural gas swaps, natural gas basis swaps and natural gas purchase and sales transactions in markets such that the pricing is closely related to the NYMEX pricing. | |||||||||||||
Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). | |||||||||||||
The Company utilizes the market approach in determining the fair value of its derivative positions by using either NYMEX published market prices, independent broker pricing data or broker/dealer valuations. The valuations of derivatives with pricing based on NYMEX published market prices may be considered Level 1 if they are settled through a NYMEX clearing broker account with daily margining. Over-the-counter derivatives with NYMEX based prices are considered Level 2 due to the impact of counterparty credit risk. Valuations based on independent broker pricing or broker/dealer valuations may be classified as Level 2 only to the extent they may be validated by an additional source of independent market data for an identical or closely related active market. In certain less liquid markets or for longer-term contracts, forward prices are not as readily available. In these circumstances, contracts are valued using internally developed methodologies that consider historical relationships among various quoted prices in active markets that result in management's best estimate of fair value. These contracts are classified as Level 3. | |||||||||||||
The impact to the fair value of derivatives due to credit risk is calculated using the probability of default based on Standard & Poor's Ratings Services and/or internally generated ratings. The fair value of derivative assets is adjusted for credit risk. The fair value of derivative liabilities is adjusted for credit risk only if the impact is deemed material. | |||||||||||||
The carrying value of the financial instruments included in the Consolidated Balance Sheets approximates fair value except for long-term debt which is valued at the carrying amount. The fair value of the Company's long-term debt is based on quoted market prices and estimates of current rates available for similar issues with similar maturities and is classified as Level 2 in the fair value hierarchy. | |||||||||||||
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | ' | ||||||||||||
Fair value amounts recognized for forward, interest rate swap, option and other conditional or exchange contracts executed with the same counterparty under a master netting arrangement may be offset. The reporting entity's choice to offset or not must be applied consistently. A master netting arrangement exists if the reporting entity has multiple contracts, whether for the same type of conditional or exchange contract or for different types of contracts, with a single counterparty that are subject to a contractual agreement that provides for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract. Offsetting the fair values recognized for forward, interest rate swap, option and other conditional or exchange contracts outstanding with a single counterparty results in the net fair value of the transactions being reported as an asset or a liability in the Consolidated Balance Sheets. The Company has presented the fair values of its derivative contracts under master netting agreements using a net fair value presentation. | |||||||||||||
Derivatives, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value Hedges | |||||||||||||
For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedge risk are recognized currently in earnings. The Company includes the gain or loss on the hedged items in Operating Revenues as the offsetting loss or gain on the related hedging derivative. | |||||||||||||
Cash Flow Hedges | |||||||||||||
For derivatives that are designated and qualify as a cash flow hedge, the effective portion of the change in fair value of the derivative instrument is reported as a component of Accumulated Other Comprehensive Income (Loss) and recognized into earnings in the same period during which the hedged transaction affects earnings. The ineffective portion of a derivative's change in fair value or hedge components excluded from the assessment of effectiveness is recognized currently in earnings. The Company measures the ineffectiveness of commodity cash flow hedges using the change in fair value method whereby the change in the expected future cash flows designated as the hedge transaction are compared to the change in fair value of the hedging instrument. Forecasted transactions, which are designated as the hedged transaction in a cash flow hedge, are regularly evaluated to assess whether they continue to be probable of occurring. If the forecasted transactions are no longer probable of occurring, hedge accounting will cease on a prospective basis and all future changes in the fair value of the derivative will be recognized directly in earnings. | |||||||||||||
The Company previously designated as cash flow hedges derivatives used to manage commodity price risk exposure for OGE Holdings's NGLs volumes and corresponding keep-whole natural gas resulting from its natural gas processing contracts (processing hedges) and natural gas positions resulting from its natural gas gathering and processing operations and natural gas transportation and storage operations (operational gas hedges). The Company also previously designated as cash flow hedges certain derivatives used to manage natural gas commodity exposure for certain natural gas storage inventory positions. | |||||||||||||
Derivatives Not Designated As Hedging Instruments | |||||||||||||
Derivative instruments not designated as hedging instruments were utilized in OGE Holdings' asset management activities and were reflected in consolidated results prior to the deconsolidation of Enogex on May 1, 2013. For derivative instruments not designated as hedging instruments, the gain or loss on the derivative is recognized in the period in which it occurred. | |||||||||||||
Share-based Compensation, Option and Incentive Plans, Policy [Policy Text Block] | ' | ||||||||||||
Performance Units – Earnings Per Share | |||||||||||||
The fair value of the performance units based on earnings per share is based on grant date fair value which is equivalent to the price of one share of the Company's common stock on the date of grant. The fair value of performance units based on earnings per share varies as the number of performance units that will vest is based on the grant date fair value of the units and the probable outcome of the performance condition. The Company reassesses at each reporting date whether achievement of the performance condition is probable and accrues compensation expense if and when achievement of the performance condition is probable. As a result, the compensation expense recognized for these performance units can vary from period to period. There are no post-vesting restrictions related to the Company's performance units based on earnings per share. | |||||||||||||
Stock Options | |||||||||||||
The Company last issued stock options in 2004 and as of December 31, 2006, all stock options were fully vested and expensed. All stock options have a contractual life of 10 years. | |||||||||||||
Performance Units | |||||||||||||
Under the 2008 Stock Incentive Plan, the Company has issued performance units which represent the value of one share of the Company's common stock. The performance units provide for accelerated vesting if there is a change in control (as defined in the 2008 Stock Incentive Plan). Each performance unit is subject to forfeiture if the recipient terminates employment with the Company or a subsidiary prior to the end of the three-year award cycle for any reason other than death, disability or retirement. In the event of death, disability or retirement, a participant will receive a prorated payment based on such participant's number of full months of service during the award cycle, further adjusted based on the achievement of the performance goals during the award cycle. | |||||||||||||
The performance units granted based on total shareholder return are contingently awarded and will be payable in shares of the Company's common stock subject to the condition that the number of performance units, if any, earned by the employees upon the expiration of a three-year award cycle (i.e., three-year cliff vesting period) is dependent on the Company's total shareholder return ranking relative to a peer group of companies. The performance units granted based on earnings per share are contingently awarded and will be payable in shares of the Company's common stock based on the Company's earnings per share growth over a three-year award cycle (i.e., three-year cliff vesting period) compared to a target set at the time of the grant by the Compensation Committee of the Company's Board of Directors. All of these performance units are classified as equity in the Consolidated Balance Sheet. If there is no or only a partial payout for the performance units at the end of the award cycle, the unearned performance units are cancelled. Payout requires approval of the Compensation Committee of the Company's Board of Directors. Payouts, if any, are all made in common stock and are considered made when the payout is approved by the Compensation Committee. | |||||||||||||
Performance Units – Total Shareholder Return | |||||||||||||
The fair value of the performance units based on total shareholder return was estimated on the grant date using a lattice-based valuation model that factors in information, including the expected dividend yield, expected price volatility, risk-free interest rate and the probable outcome of the market condition, over the expected life of the performance units. Compensation expense for the performance units is a fixed amount determined at the grant date fair value and is recognized over the three-year award cycle regardless of whether performance units are awarded at the end of the award cycle. Dividends are not accrued or paid during the performance period and, therefore, are not included in the fair value calculation. Expected price volatility is based on the historical volatility of the Company's common stock for the past three years and was simulated using the Geometric Brownian Motion process. The risk-free interest rate for the performance unit grants is based on the three-year U.S. Treasury yield curve in effect at the time of the grant. The expected life of the units is based on the non-vested period since inception of the award cycle. There are no post-vesting restrictions related to the Company's performance units based on total shareholder return. | |||||||||||||
Restricted Stock | |||||||||||||
Under the 2008 Stock Incentive Plan and beginning in 2008, the Company issued restricted stock to certain existing non-officer employees as well as other executives upon hire to attract and retain individuals to be competitive in the marketplace. The restricted stock vests in one-third annual increments. Prior to vesting, each share of restricted stock is subject to forfeiture if the recipient ceases to render substantial services to the Company or a subsidiary for any reason other than death, disability or retirement. These shares may not be sold, assigned, transferred or pledged and are subject to a risk of forfeiture. | |||||||||||||
The fair value of the restricted stock was based on the closing market price of the Company's common stock on the grant date. Compensation expense for the restricted stock is a fixed amount determined at the grant date fair value and is recognized as services are rendered by employees over a three-year vesting period. Also, the Company treats its restricted stock as multiple separate awards by recording compensation expense separately for each tranche whereby a substantial portion of the expense is recognized in the earlier years in the requisite service period. Dividends are accrued and paid during the vesting period and, therefore, are included in the fair value calculation. The expected life of the restricted stock is based on the non-vested period since inception of the three-year award cycle. There are no post-vesting restrictions related to the Company's restricted stock. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Earnings Per Share | |||||||||||||
Basic earnings per share is calculated by dividing net income attributable to OGE Energy by the weighted average number of the Company's common shares outstanding during the period. In the calculation of diluted earnings per share, weighted average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for the Company consist of performance units. | |||||||||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | ||||||||||||
Postretirement Benefit Plans | |||||||||||||
In addition to providing pension benefits, the Company provides certain medical and life insurance benefits for eligible retired members. Regular, full-time, active employees hired prior to February 1, 2000 whose age and years of credited service total or exceed 80 or have attained at least age 55 with 10 or more years of service at the time of retirement are entitled to postretirement medical benefits while employees hired on or after February 1, 2000 are not entitled to postretirement medical benefits. Eligible retirees must contribute such amount as the Company specifies from time to time toward the cost of coverage for postretirement benefits. The benefits are subject to deductibles, co-payment provisions and other limitations. OG&E charges to expense the postretirement benefit costs and includes an annual amount as a component of the cost-of-service in future ratemaking proceedings. | |||||||||||||
The three levels defined in the fair value hierarchy and examples of each are as follows: | |||||||||||||
Level 1 inputs are quoted prices in active markets for identical unrestricted assets or liabilities that are accessible by the Pension Plan at the measurement date. Instruments classified as Level 1 include investments in common and preferred stocks, U.S. treasury notes and bonds, mutual funds and interest-bearing cash. | |||||||||||||
Level 2 inputs are inputs other than quoted prices in active markets included within Level 1 that are either directly or indirectly observable at the reporting date for the asset or liability for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Instruments classified as Level 2 include corporate fixed income and other securities, mortgage-backed securities, other U.S. Government obligations, commingled fund, a common/collective trust, U.S. municipal bonds, foreign government bonds, a repurchase agreement, money market fund and forward contracts. | |||||||||||||
Level 3 inputs are prices or valuation techniques for the asset or liability that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Unobservable inputs reflect the Plan's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). | |||||||||||||
Rate Assumptions | |||||||||||||
Pension Plan and | Postretirement | ||||||||||||
Restoration of Retirement Income Plan | Benefit Plans | ||||||||||||
Year ended December 31 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||
Discount rate | 4.6 | % | 3.7 | % | 4.5 | % | 4.6 | % | 3.6 | % | 4.5 | % | |
Rate of return on plans' assets | 8 | % | 8 | % | 8 | % | 4 | % | 4 | % | 6.5 | % | |
Compensation increases | 4.2 | % | 4.2 | % | 4.4 | % | N/A | N/A | N/A | ||||
Assumed health care cost trend: | |||||||||||||
Initial trend | N/A | N/A | N/A | 8.35 | % | 8.55 | % | 8.75 | % | ||||
Ultimate trend rate | N/A | N/A | N/A | 4.48 | % | 4.48 | % | 4.48 | % | ||||
Ultimate trend year | N/A | N/A | N/A | 2028 | 2028 | 2028 | |||||||
N/A - not applicable | |||||||||||||
The overall expected rate of return on plan assets assumption remained at 8.00 percent in 2012 and 2013 in determining net periodic benefit cost due to recent returns on the Company's long-term investment portfolio. The rate of return on plan assets assumption is the average long-term rate of earnings expected on the funds currently invested and to be invested for the purpose of providing benefits specified by the Pension Plan or postretirement benefit plans. This assumption is reexamined at least annually and updated as necessary. The rate of return on plan assets assumption reflects a combination of historical return analysis, forward-looking return expectations and the plans' current and expected asset allocation. | |||||||||||||
Post-Employment Benefit Plan | |||||||||||||
Disabled employees receiving benefits from the Company's Group Long-Term Disability Plan are entitled to continue participating in the Company's Medical Plan along with their dependents. The post-employment benefit obligation represents the actuarial present value of estimated future medical benefits that are attributed to employee service rendered prior to the date as of which such information is presented. The obligation also includes future medical benefits expected to be paid to current employees participating in the Company's Group Long-Term Disability Plan and their dependents, as defined in the Company's Medical Plan. | |||||||||||||
The post-employment benefit obligation is determined by an actuary on a basis similar to the accumulated postretirement benefit obligation. The estimated future medical benefits are projected to grow with expected future medical cost trend rates and are discounted for interest at the discount rate and for the probability that the participant will discontinue receiving benefits from the Company's Group Long-Term Disability Plan due to death, recovery from disability, or eligibility for retiree medical benefits. The Company's post-employment benefit obligation was $1.6 million and $2.6 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Pension Plan and Restoration of Retirement Income Plan | |||||||||||||
Employees hired or rehired on or after December 1, 2009 do not participate in the Pension Plan but are eligible to participate in the 401(k) Plan where, for each pay period, the Company contributes to the 401(k) Plan, on behalf of each participant, 200 percent of the participant's contributions up to five percent of compensation. | |||||||||||||
It is the Company's policy to fund the Pension Plan on a current basis based on the net periodic pension expense as determined by the Company's actuarial consultants. During both 2013 and 2012, OGE Energy made contributions to its Pension Plan of $35 million to help ensure that the Pension Plan maintains an adequate funded status. Such contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. During 2014, OGE Energy expects to contribute up to $26 million to its Pension Plan. The expected contribution to the Pension Plan during 2014 would be a discretionary contribution, anticipated to be in the form of cash, and is not required to satisfy the minimum regulatory funding requirement specified by the Employee Retirement Income Security Act of 1974, as amended. OGE Energy could be required to make additional contributions if the value of its pension trust and postretirement benefit plan trust assets are adversely impacted by a major market disruption in the future. | |||||||||||||
In accordance with ASC Topic 715, "Compensation - Retirement Benefits," a one-time settlement charge is required to be recorded by an organization when lump sum payments or other settlements that relieve the organization from the responsibility for the pension benefit obligation during a plan year exceed the service cost and interest cost components of the organization’s net periodic pension cost. During 2013, the Company experienced an increase in both the number of employees electing to retire and the amount of lump sum payments to be paid to such employees upon retirement. As a result, and based in part on the Company’s historical experience regarding eligible employees who elect to retire in the last quarter of a particular year, the Company recorded pension settlement charges of $22.4 million in the fourth quarter of 2013, of which $17.0 million related to OG&E’s Oklahoma jurisdiction and has been included in the pension tracker. The pension settlement charge did not require a cash outlay by the Company and did not increase the Company’s total pension expense over time, as the charges were an acceleration of costs that otherwise would be recognized as pension expense in future periods. | |||||||||||||
The postretirement benefit plans Level 3 investment includes an investment in a group retiree medical insurance contract. The unobservable input included in the valuation of the contract includes the approach for determining the allocation of the postretirement benefit plans pro-rata share of the total assets in the contract. | |||||||||||||
The Company provides a Restoration of Retirement Income Plan to those participants in the Company's Pension Plan whose benefits are subject to certain limitations of the Code. Participants in the Restoration of Retirement Income Plan receive the same benefits that they would have received under the Company's Pension Plan in the absence of limitations imposed by the Federal tax laws. The Restoration of Retirement Income Plan is intended to be an unfunded plan. | |||||||||||||
Plan Investments, Policies and Strategies, Policy [Policy Text Block] | ' | ||||||||||||
Plan Investments, Policies and Strategies | |||||||||||||
The Pension Plan assets are held in a trust which follows an investment policy and strategy designed to reduce the funded status volatility of the Plan by utilizing liability driven investing. The purpose of liability driven investing is to structure the asset portfolio to more closely resemble the pension liability and thereby more effectively hedge against changes in the liability. The investment policy follows a glide path approach that shifts a higher portfolio weighting to fixed income as the Plan's funded status increases. The table below sets forth the targeted fixed income and equity allocations at different funded status levels. | |||||||||||||
Projected Benefit Obligation Funded Status Thresholds | <90% | 95% | 100% | 105% | 110% | 115% | 120% | ||||||
Fixed income | 50% | 58% | 65% | 73% | 80% | 85% | 90% | ||||||
Equity | 50% | 42% | 35% | 27% | 20% | 15% | 10% | ||||||
Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | ||||||
Within the portfolio's overall allocation to equities, the funds are allocated according to the guidelines in the table below. | |||||||||||||
Asset Class | Target Allocation | Minimum | Maximum | ||||||||||
Domestic All-Cap/Large Cap Equity | 50% | 50% | 60% | ||||||||||
Domestic Mid-Cap Equity | 15% | 5% | 25% | ||||||||||
Domestic Small-Cap Equity | 15% | 5% | 25% | ||||||||||
International Equity | 20% | 10% | 30% | ||||||||||
The Company has retained an investment consultant responsible for the general investment oversight, analysis, monitoring investment guideline compliance and providing quarterly reports to certain of the Company's members and the Company's Investment Committee. The various investment managers used by the trust operate within the general operating objectives as established in the investment policy and within the specific guidelines established for each investment manager's respective portfolio. | |||||||||||||
The portfolio is rebalanced on an annual basis to bring the asset allocations of various managers in line with the target asset allocation listed above. More frequent rebalancing may occur if there are dramatic price movements in the financial markets which may cause the trust's exposure to any asset class to exceed or fall below the established allowable guidelines. | |||||||||||||
To evaluate the progress of the portfolio, investment performance is reviewed quarterly. It is, however, expected that performance goals will be met over a full market cycle, normally defined as a three to five year period. Analysis of performance is within the context of the prevailing investment environment and the advisors' investment style. The goal of the trust is to provide a rate of return consistently from three percent to five percent over the rate of inflation (as measured by the national Consumer Price Index) on a fee adjusted basis over a typical market cycle of no less than three years and no more than five years. Each investment manager is expected to outperform its respective benchmark. Below is a list of each asset class utilized with appropriate comparative benchmark(s) each manager is evaluated against: | |||||||||||||
Asset Class | Comparative Benchmark(s) | ||||||||||||
Core Fixed Income | Barclays Capital Aggregate Index | ||||||||||||
Interest Rate Sensitive Fixed Income | Barclays Capital Aggregate Index | ||||||||||||
Long Duration Fixed Income | Barclays Long Government/Credit | ||||||||||||
Equity Index | Standard & Poor's 500 Index | ||||||||||||
All-Cap Equity | Russell 3000 Index | ||||||||||||
Russell 3000 Value Index | |||||||||||||
Mid-Cap Equity | Russell Midcap Index | ||||||||||||
Russell Midcap Value Index | |||||||||||||
Small-Cap Equity | Russell 2000 Index | ||||||||||||
Russell 2000 Value Index | |||||||||||||
International Equity | Morgan Stanley Capital Investment ACWI ex-US | ||||||||||||
The fixed income manager is expected to use discretion over the asset mix of the trust assets in its efforts to maximize risk-adjusted performance. Exposure to any single issuer, other than the U.S. government, its agencies, or its instrumentalities (which have no limits) is limited to five percent of the fixed income portfolio as measured by market value. At least 75 percent of the invested assets must possess an investment grade rating at or above Baa3 or BBB- by Moody's Investors Services, Standard & Poor's Ratings Services or Fitch Ratings. The portfolio may invest up to 10 percent of the portfolio's market value in convertible bonds as long as the securities purchased meet the quality guidelines. The purchase of any of the Company's equity, debt or other securities is prohibited. | |||||||||||||
The domestic value equity managers focus on stocks that the manager believes are undervalued in price and earn an average or less than average return on assets, and often pays out higher than average dividend payments. The domestic growth equity manager will invest primarily in growth companies which consistently experience above average growth in earnings and sales, earn a high return on assets, and reinvest cash flow into existing business. The domestic mid-cap equity portfolio manager focuses on companies with market capitalizations lower than the average company traded on the public exchanges with the following characteristics: price/earnings ratio at or near the Russell Midcap Index, small dividend yield, return on equity at or near the Russell Midcap Index and an earnings per share growth rate at or near the Russell Midcap Index. The domestic small-cap equity manager will purchase shares of companies with market capitalizations lower than the average company traded on the public exchanges with the following characteristics: price/earnings ratio at or near the Russell 2000, small dividend yield, return on equity at or near the Russell 2000 and an earnings per share growth rate at or near the Russell 2000. The international global equity manager invests primarily in non-dollar denominated equity securities. Investing internationally diversifies the overall trust across the global equity markets. The manager is required to operate under certain restrictions including: regional constraints, diversification requirements and percentage of U.S. securities. The Morgan Stanley Capital International All Country World ex-US Index is the benchmark for comparative performance purposes. The Morgan Stanley Capital International All Country World ex-US Index is a market value weighted index designed to measure the combined equity market performance of developed and emerging markets countries, excluding the United States. All of the equities which are purchased for the international portfolio are thoroughly researched. Only companies with a market capitalization in excess of $100 million are allowable. No more than five percent of the portfolio can be invested in any one stock at the time of purchase. All securities are freely traded on a recognized stock exchange and there are no 144-A securities and no over-the-counter derivatives. The following investment categories are excluded: options (other than traded currency options), commodities, futures (other than currency futures or currency hedging), short sales/margin purchases, private placements, unlisted securities and real estate (but not real estate shares). | |||||||||||||
For all domestic equity investment managers, no more than eight percent (five percent for mid-cap and small-cap equity managers) can be invested in any one stock at the time of purchase and no more than 16 percent (10 percent for mid-cap and small-cap equity managers) after accounting for price appreciation. Options or financial futures may not be purchased unless prior approval of the Company's Investment Committee is received. The purchase of securities on margin is prohibited as is securities lending. Private placement or venture capital may not be purchased. All interest and dividend payments must be swept on a daily basis into a short-term money market fund for re-deployment. The purchase of any of the Company's equity, debt or other securities is prohibited. The purchase of equity or debt issues of the portfolio manager's organization is also prohibited. The aggregate positions in any company may not exceed one percent of the fair market value of its outstanding stock. | |||||||||||||
Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block] | ' | ||||||||||||
401(k) Plan | |||||||||||||
The Company provides a 401(k) Plan. Each regular full-time employee of the Company or a participating affiliate is eligible to participate in the 401(k) Plan immediately. All other employees of the Company or a participating affiliate are eligible to become participants in the 401(k) Plan after completing one year of service as defined in the 401(k) Plan. Participants may contribute each pay period any whole percentage between two percent and 19 percent of their compensation, as defined in the 401(k) Plan, for that pay period. Participants who have attained age 50 before the close of a year are allowed to make additional contributions referred to as "Catch-Up Contributions," subject to certain limitations of the Code. Participants may designate, at their discretion, all or any portion of their contributions as: (i) a before-tax contribution under Section 401(k) of the Code subject to the limitations thereof; or (ii) a contribution made on an after-tax basis. The 401(k) Plan also includes an eligible automatic contribution arrangement and provides for a qualified default investment alternative consistent with the U.S. Department of Labor regulations. Participants may elect, in accordance with the 401(k) Plan procedures, to have his or her future salary deferral rate to be automatically increased annually on a date and in an amount as specified by the participant in such election. | |||||||||||||
No Company contributions are made with respect to a participant's Catch-Up Contributions, rollover contributions, or with respect to a participant's contributions based on overtime payments, pay-in-lieu of overtime for exempt personnel, special lump-sum recognition awards and lump-sum merit awards included in compensation for determining the amount of participant contributions. Once made, the Company's contribution may be directed to any available investment option in the 401(k) Plan. The Company match contributions vest over a three-year period. After two years of service, participants become 20 percent vested in their Company contribution account and become fully vested on completing three years of service. In addition, participants fully vest when they are eligible for normal or early retirement under the Pension Plan, in the event of their termination due to death or permanent disability or upon attainment of age 65 while employed by the Company or its affiliates. The Company contributed $14.2 million, $13.4 million and $12.3 million in 2013, 2012 and 2011, respectively, to the 401(k) Plan. | |||||||||||||
Deferred Compensation Plan | |||||||||||||
The Company provides a nonqualified deferred compensation plan which is intended to be an unfunded plan. The plan's primary purpose is to provide a tax-deferred capital accumulation vehicle for a select group of management, highly compensated employees and non-employee members of the Board of Directors of the Company and to supplement such employees' 401(k) Plan contributions as well as offering this plan to be competitive in the marketplace. | |||||||||||||
Eligible employees who enroll in the plan have the following deferral options: (i) eligible employees may elect to defer up to a maximum of 70 percent of base salary and 100 percent of annual bonus awards or (ii) eligible employees may elect a deferral percentage of base salary and bonus awards based on the deferral percentage elected for a year under the 401(k) Plan with such deferrals to start when maximum deferrals to the qualified 401(k) Plan have been made because of limitations in that plan. Eligible directors who enroll in the plan may elect to defer up to a maximum of 100 percent of directors' meeting fees and annual retainers. The Company matches employee (but not non-employee director) deferrals to make up for any match lost in the 401(k) Plan because of deferrals to the deferred compensation plan, and to allow for a match that would have been made under the 401(k) Plan on that portion of either the first six percent of total compensation or the first five percent of total compensation, depending on the option the participant elected under the choice provided to eligible employees in the qualified 401(k) Plan discussed above, deferred that exceeds the limits allowed in the 401(k) Plan. Matching credits vest based on years of service, with full vesting after three years or, if earlier, on retirement, disability, death, a change in control of the Company or termination of the plan. Deferrals, plus any Company match, are credited to a recordkeeping account in the participant's name. Earnings on the deferrals are indexed to the assumed investment funds selected by the participant. In 2013, those investment options included a Company Common Stock fund, whose value was determined based on the stock price of the Company's Common Stock. The Company accounts for the contributions related to the Company's executive officers in this plan as Accrued Benefit Obligations and the Company accounts for the contributions related to the Company's directors in this plan as Other Deferred Credits and Other Liabilities in the Consolidated Balance Sheets. The investment associated with these contributions is accounted for as Other Property and Investments in the Consolidated Balance Sheets. The appreciation of these investments is accounted for as Other Income and the increase in the liability under the plan is accounted for as Other Expense in the Consolidated Statements of Income. | |||||||||||||
Supplemental Executive Retirement Plan | |||||||||||||
The Company provides a supplemental executive retirement plan in order to attract and retain lateral hires or other executives designated by the Compensation Committee of the Company's Board of Directors who may not otherwise qualify for a sufficient level of benefits under the Company's Pension Plan and Restoration of Retirement Income Plan. The supplemental executive retirement plan is intended to be an unfunded plan and not subject to the benefit limitations of the Code. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Regulatory Assets and Liabilities [Table Text Block] | ' | |||||||||||||||||||||||||
The following table is a summary of OG&E's regulatory assets and liabilities at: | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Regulatory Assets | ||||||||||||||||||||||||||
Current | ||||||||||||||||||||||||||
Fuel clause under recoveries | $ | 26.2 | $ | — | ||||||||||||||||||||||
Oklahoma demand program rider under recovery (A) | 10.6 | 9.2 | ||||||||||||||||||||||||
Crossroads wind farm rider under recovery (A) | 4.7 | 14.9 | ||||||||||||||||||||||||
Other (A) | 7.3 | 2.9 | ||||||||||||||||||||||||
Total Current Regulatory Assets | $ | 48.8 | $ | 27 | ||||||||||||||||||||||
Non-Current | ||||||||||||||||||||||||||
Benefit obligations regulatory asset | $ | 227.4 | $ | 370.6 | ||||||||||||||||||||||
Income taxes recoverable from customers, net | 56.5 | 54.7 | ||||||||||||||||||||||||
Smart Grid | 44.2 | 42.8 | ||||||||||||||||||||||||
Deferred storm expenses | 21.6 | 12.7 | ||||||||||||||||||||||||
Unamortized loss on reacquired debt | 11.8 | 13 | ||||||||||||||||||||||||
Pension tracker | 1.4 | — | ||||||||||||||||||||||||
Other | 16.2 | 16.8 | ||||||||||||||||||||||||
Total Non-Current Regulatory Assets | $ | 379.1 | $ | 510.6 | ||||||||||||||||||||||
Regulatory Liabilities | ||||||||||||||||||||||||||
Current | ||||||||||||||||||||||||||
Smart Grid rider over recovery (B) | $ | 16.7 | $ | 24.1 | ||||||||||||||||||||||
Fuel clause over recoveries | 0.4 | 109.2 | ||||||||||||||||||||||||
Other (B) | 3.1 | 7.8 | ||||||||||||||||||||||||
Total Current Regulatory Liabilities | $ | 20.2 | $ | 141.1 | ||||||||||||||||||||||
Non-Current | ||||||||||||||||||||||||||
Accrued removal obligations, net | $ | 227.7 | $ | 218.2 | ||||||||||||||||||||||
Deferred pension credits | 6.5 | 17.7 | ||||||||||||||||||||||||
Pension tracker | — | 9.2 | ||||||||||||||||||||||||
Total Non-Current Regulatory Liabilities | $ | 234.2 | $ | 245.1 | ||||||||||||||||||||||
(A) | Included in Other Current Assets on the Consolidated Balance Sheets. | |||||||||||||||||||||||||
(B) | Included in Other Current Liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||||||
Components of Benefit Obligation Regulatory Asset [Table Text Block] | ' | |||||||||||||||||||||||||
The following table is a summary of the components of the benefit obligations regulatory asset at: | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | 178.4 | $ | 278.6 | ||||||||||||||||||||||
Prior service cost | 2.5 | 4.5 | ||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | 79.9 | 134.6 | ||||||||||||||||||||||||
Prior service cost | (33.4 | ) | (47.1 | ) | ||||||||||||||||||||||
Total | $ | 227.4 | $ | 370.6 | ||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | ' | |||||||||||||||||||||||||
The following amounts in the benefit obligations regulatory asset at December 31, 2013 are expected to be recognized as components of net periodic benefit cost in 2014: | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | 11.4 | ||||||||||||||||||||||||
Prior service cost | 2 | |||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | 11 | |||||||||||||||||||||||||
Prior service cost | (13.7 | ) | ||||||||||||||||||||||||
Total | $ | 10.7 | ||||||||||||||||||||||||
Schedule of Jointly Owned Utility Plants [Table Text Block] | ' | |||||||||||||||||||||||||
The table below presents OG&E's ownership interest in the jointly-owned McClain Plant and the jointly-owned Redbud Plant, and, as disclosed below, only OG&E's ownership interest is reflected in the property, plant and equipment and accumulated depreciation balances in these tables. The owners of the remaining interests in the McClain Plant and the Redbud Plant are responsible for providing their own financing of capital expenditures. Also, only OG&E's proportionate interests of any direct expenses of the McClain Plant and the Redbud Plant such as fuel, maintenance expense and other operating expenses are included in the applicable financial statement captions in the Consolidated Statement of Income. | ||||||||||||||||||||||||||
December 31, 2013 (In millions) | Percentage Ownership | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | ||||||||||||||||||||||
McClain Plant (A) | 77 | % | $ | 180.8 | $ | 62.1 | $ | 118.7 | ||||||||||||||||||
Redbud Plant (A)(B) | 51 | % | $ | 498.9 | $ | 89.7 | $ | 409.2 | ||||||||||||||||||
(A) | Construction work in progress was $0.1 million and $39.5 million for the McClain and Redbud Plants, respectively. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $28.8 million. | |||||||||||||||||||||||||
December 31, 2012 (In millions) | Percentage Ownership | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | ||||||||||||||||||||||
McClain Plant (A) | 77 | % | $ | 182.1 | $ | 56.3 | $ | 125.8 | ||||||||||||||||||
Redbud Plant (A)(B) | 51 | % | $ | 458.5 | $ | 69.5 | $ | 389 | ||||||||||||||||||
(A) | Construction work in progress was $0.1 million and $0.3 million for the McClain and Redbud Plants, respectively. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $23.3 million. | |||||||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||||||||||||||
The Company's property, plant and equipment and related accumulated depreciation are divided into the following major classes at: | ||||||||||||||||||||||||||
December 31, 2013 (In millions) | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | |||||||||||||||||||||||
OGE Energy (holding company) | ||||||||||||||||||||||||||
Property, plant and equipment | $ | 152.4 | $ | 114.2 | $ | 38.2 | ||||||||||||||||||||
OGE Energy property, plant and equipment | 152.4 | 114.2 | 38.2 | |||||||||||||||||||||||
OG&E | ||||||||||||||||||||||||||
Distribution assets | 3,403.80 | 1,028.20 | 2,375.60 | |||||||||||||||||||||||
Electric generation assets (A) | 3,551.00 | 1,306.10 | 2,244.90 | |||||||||||||||||||||||
Transmission assets (B) | 2,163.70 | 385 | 1,778.70 | |||||||||||||||||||||||
Intangible plant | 50.5 | 27.1 | 23.4 | |||||||||||||||||||||||
Other property and equipment | 330.2 | 118.2 | 212 | |||||||||||||||||||||||
OG&E property, plant and equipment | 9,499.20 | 2,864.60 | 6,634.60 | |||||||||||||||||||||||
Total property, plant and equipment | $ | 9,651.60 | $ | 2,978.80 | $ | 6,672.80 | ||||||||||||||||||||
(A) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $28.8 million. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $3.3 million and accumulated amortization of $0.3 million. | |||||||||||||||||||||||||
December 31, 2012 (In millions) | Total Property, Plant and Equipment | Accumulated Depreciation | Net Property, Plant and Equipment | |||||||||||||||||||||||
OGE Energy (holding company) | ||||||||||||||||||||||||||
Property, plant and equipment | $ | 142.1 | $ | 103.2 | $ | 38.9 | ||||||||||||||||||||
OGE Energy property, plant and equipment | 142.1 | 103.2 | 38.9 | |||||||||||||||||||||||
OG&E | ||||||||||||||||||||||||||
Distribution assets | 3,222.70 | 969.6 | 2,253.10 | |||||||||||||||||||||||
Electric generation assets (A) | 3,446.60 | 1,242.40 | 2,204.20 | |||||||||||||||||||||||
Transmission assets (B) | 1,712.60 | 359.8 | 1,352.80 | |||||||||||||||||||||||
Intangible plant | 50.2 | 25 | 25.2 | |||||||||||||||||||||||
Other property and equipment | 317.6 | 108.8 | 208.8 | |||||||||||||||||||||||
OG&E property, plant and equipment | 8,749.70 | 2,705.60 | 6,044.10 | |||||||||||||||||||||||
Enogex | ||||||||||||||||||||||||||
Natural gas transportation and storage assets | 988.6 | 292.7 | 695.9 | |||||||||||||||||||||||
Natural gas gathering and processing assets | 2,011.50 | 445.6 | 1,565.90 | |||||||||||||||||||||||
Enogex property, plant and equipment | 3,000.10 | 738.3 | 2,261.80 | |||||||||||||||||||||||
Total property, plant and equipment | $ | 11,891.90 | $ | 3,547.10 | $ | 8,344.80 | ||||||||||||||||||||
(A) | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $23.3 million. | |||||||||||||||||||||||||
(B) | This amount includes a plant acquisition adjustment of $3.3 million and accumulated amortization of $0.3 million. | |||||||||||||||||||||||||
Schedule of Unamortized Computer Software Costs [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes the Company's unamortized computer software costs. | ||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||
OGE Energy (holding company) | $ | 7.2 | $ | 11.6 | ||||||||||||||||||||||
OG&E | 16.8 | 17.6 | ||||||||||||||||||||||||
Enogex | — | 3.9 | ||||||||||||||||||||||||
Total | $ | 24 | $ | 33.1 | ||||||||||||||||||||||
Schedule of Computer Software Costs, Amortization [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes the Company's amortization expense for computer software costs. | ||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||
OGE Energy (holding company) | $ | 6.4 | $ | 6.8 | $ | 6.4 | ||||||||||||||||||||
OG&E | 4 | 4.2 | 1.8 | |||||||||||||||||||||||
Enogex | 0.8 | 3.1 | 1 | |||||||||||||||||||||||
Total | $ | 11.2 | $ | 14.1 | $ | 9.2 | ||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||||||||||||
The following table below summarizes OGE Holdings' intangible assets and related accumulated amortization at: December 31, 2012. | ||||||||||||||||||||||||||
(In millions) | Total Intangible Assets | Accumulated Amortization | Net Intangible Assets | |||||||||||||||||||||||
Customer Contract / Acreage Dedication | $ | 141.9 | $ | 14.5 | $ | 127.4 | ||||||||||||||||||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes changes to the Company's asset retirement obligations during the years ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||||||||
Balance at January 1 | $ | 54 | $ | 24.8 | ||||||||||||||||||||||
Liabilities settled (A) | (0.4 | ) | 0.4 | |||||||||||||||||||||||
Accretion expense | 2.3 | 1.9 | ||||||||||||||||||||||||
Revisions in estimated cash flows (B) | (0.7 | ) | 26.9 | |||||||||||||||||||||||
Balance at December 31 | $ | 55.2 | $ | 54 | ||||||||||||||||||||||
(A) | As a result of the formation of Enable on May 1, 2013, the Company has no obligations at December 31, 2013 under OGE Holdings' asset retirement obligations previously disclosed in the Company's 2012 10-K. | |||||||||||||||||||||||||
(B) | Due to changes to OG&E's asset retirement obligations related to its wind farms as a result of changes in the assumption related to the timing of removal used in the valuation of the asset retirement obligations. | |||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes changes in the components of accumulated other comprehensive loss attributable to OGE Energy during 2013. All amounts below are presented net of tax and noncontrolling interest. | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | Postretirement Benefit Plans | |||||||||||||||||||||||||
(In millions) | Net loss | Prior service cost | Net loss | Prior service cost | Deferred commodity contracts hedging gains | Deferred interest rate swap hedging losses | Less: Noncontrolling interest | Total | ||||||||||||||||||
Balance at December 31, 2012 | $ | (49.3 | ) | $ | 0.1 | $ | (15.7 | ) | $ | 7.2 | $ | 0.1 | $ | (0.5 | ) | $ | (9.0 | ) | $ | (49.1 | ) | |||||
Other comprehensive income before reclassifications | 12.4 | — | 6.9 | — | — | — | — | 19.3 | ||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) (A) | 6.7 | — | 2 | (1.8 | ) | 0.6 | 0.3 | 0.1 | 7.7 | |||||||||||||||||
Deconsolidation of Enogex Holdings | 2.8 | — | 1 | (0.3 | ) | (0.7 | ) | — | 8.9 | (6.1 | ) | |||||||||||||||
Net current period other comprehensive income (loss) | 21.9 | — | 9.9 | (2.1 | ) | (0.1 | ) | 0.3 | 9 | 20.9 | ||||||||||||||||
Balance at December 31, 2013 | $ | (27.4 | ) | $ | 0.1 | $ | (5.8 | ) | $ | 5.1 | $ | — | $ | (0.2 | ) | $ | — | $ | (28.2 | ) | ||||||
(A) | Includes $3.0 million of pension settlement charges. | |||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||||||||
The following table summarizes significant amounts reclassified out of accumulated other comprehensive loss by the respective line items in net income during the year ended December 31, 2013. | ||||||||||||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||||||||||||||||
Year Ended | ||||||||||||||||||||||||||
(In millions) | December 31, 2013 | |||||||||||||||||||||||||
Gains (losses) on cash flow hedges | ||||||||||||||||||||||||||
Commodity contracts | $ | (1.0 | ) | Cost of sales | ||||||||||||||||||||||
Interest rate swap | (0.4 | ) | Interest expense | |||||||||||||||||||||||
(1.4 | ) | Total before tax | ||||||||||||||||||||||||
(0.5 | ) | Tax benefit | ||||||||||||||||||||||||
$ | (0.9 | ) | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | ||||||||||||||||||||||||||
Actuarial gains (losses) | $ | (6.1 | ) | (A) | ||||||||||||||||||||||
Settlement cost | (4.9 | ) | (A) | |||||||||||||||||||||||
(11.0 | ) | Total before tax | ||||||||||||||||||||||||
(4.3 | ) | Tax benefit | ||||||||||||||||||||||||
(6.7 | ) | Net of tax | ||||||||||||||||||||||||
(0.1 | ) | Noncontrolling interest | ||||||||||||||||||||||||
$ | (6.6 | ) | Net of tax and noncontrolling interest | |||||||||||||||||||||||
Amortization of postretirement benefit plan items | ||||||||||||||||||||||||||
Actuarial gains (losses) | $ | (3.3 | ) | (A) | ||||||||||||||||||||||
Prior service cost | 2.9 | (A) | ||||||||||||||||||||||||
(0.4 | ) | Total before tax | ||||||||||||||||||||||||
(0.2 | ) | Tax benefit | ||||||||||||||||||||||||
$ | (0.2 | ) | Net of tax | |||||||||||||||||||||||
Total reclassifications for the period | $ | (7.7 | ) | Net of tax and noncontrolling interest | ||||||||||||||||||||||
(A) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 13 for additional information). | |||||||||||||||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | |||||||||||||||||||||||||
The amounts in accumulated other comprehensive loss at December 31, 2013 that are expected to be recognized into earnings in 2014 are as follows: | ||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
Pension Plan and Restoration of Retirement Income Plan | ||||||||||||||||||||||||||
Net loss | $ | (1.7 | ) | |||||||||||||||||||||||
Prior service cost | (0.1 | ) | ||||||||||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||||||||||||
Net loss | (0.8 | ) | ||||||||||||||||||||||||
Prior service cost | 1.8 | |||||||||||||||||||||||||
Deferred commodity contracts hedging gains | — | |||||||||||||||||||||||||
Deferred interest rate swap hedging losses | (0.2 | ) | ||||||||||||||||||||||||
Total, net of tax | $ | (1.0 | ) |
Investment_in_Unconsolidated_A1
Investment in Unconsolidated Affiliate and Related Party Transactions (Tables) | 8 Months Ended | |||
Dec. 31, 2013 | ||||
Investment in Unconsolidated Affiliate and Related Party Transaction [Abstract] | ' | |||
Schedule of Related Party Transactions [Table Text Block] | ' | |||
Related Party Transactions with Enable | ||||
Eight Months Ended | ||||
(In millions) | December 31, 2013 | |||
Operating Revenues: | ||||
Electricity to power electric compression assets | $ | 7.7 | ||
Cost of Sales: | ||||
Natural gas transportation services | $ | 23.2 | ||
Natural gas storage services | 8.6 | |||
Natural gas purchases | 14.8 | |||
Summarized Balance Sheet Financial Information, Equity Method Investment [Table Text Block] | ' | |||
As Enable began operations on May 1, 2013, summarized unaudited financial information for 100 percent of Enable is presented below at December 31, 2013 and for the eight months ended December 31, 2013. | ||||
Balance Sheet | December 31, 2013 | |||
(In millions) | ||||
Current assets | $ | 549 | ||
Non-current assets | 10,683 | |||
Current liabilities | 720 | |||
Non-current liabilities | 2,331 | |||
Summarized Income Statement Financial Information, Equity Method Investment [Table Text Block] | ' | |||
Eight Months Ended | ||||
Income Statement | 31-Dec-13 | |||
(In millions) | ||||
Operating revenues | $ | 2,122.60 | ||
Cost of sales | 1,240.50 | |||
Operating income | 321.9 | |||
Net income | 288.6 | |||
Reconciliation of Equity in Earnings of Unconsolidated Affiliates [Table Text Block] | ' | |||
Eight Months Ended | ||||
Reconciliation of Equity in Earnings of Unconsolidated Affiliates | 31-Dec-13 | |||
(In millions) | ||||
OGE's 28.5% share of Enable Net Income | $ | 82.1 | ||
Amortization of basis difference | 9.4 | |||
Elimination of Enogex Holdings fair value and other adjustments | 10.4 | |||
OGE's Equity in earnings of unconsolidated affiliates | $ | 101.9 | ||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block] | ' | ||||||||||||
The Company had no financial instruments measured at fair value on a recurring basis at December 31, 2013. The following table summarizes the Company's assets and liabilities that are measured at fair value on a recurring basis at December 31, 2012 as well as presents the Company's commodity contracts fair value to PRM Assets and Liabilities on the Company's Consolidated Balance Sheet at December 31, 2012. There were no Level 3 investments held at December 31, 2012. | |||||||||||||
December 31, 2012 | |||||||||||||
(In millions) | Commodity Contracts | Gas Imbalances (A) | |||||||||||
Assets | Liabilities | Assets (B) | Liabilities (C) | ||||||||||
Quoted market prices in active market for identical assets (Level 1) | $ | 5 | $ | 5 | $ | — | $ | — | |||||
Significant other observable inputs (Level 2) | 0.5 | 0.5 | 3.1 | 3.8 | |||||||||
Total fair value | 5.5 | 5.5 | 3.1 | 3.8 | |||||||||
Netting adjustments | (5.0 | ) | (5.2 | ) | — | — | |||||||
Total | $ | 0.5 | $ | 0.3 | $ | 3.1 | $ | 3.8 | |||||
(A) | The Company uses the market approach to fair value its gas imbalance assets and liabilities, using an average of the Inside FERC Gas Market Report for Panhandle Eastern Pipe Line Co. (Texas, Oklahoma Mainline), ONEOK (Oklahoma) and ANR Pipeline (Oklahoma) indices. | ||||||||||||
(B) | Gas imbalance assets exclude fuel reserves for under retained fuel due from shippers of $5.9 million at December 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. | ||||||||||||
(C) | Gas imbalance liabilities exclude fuel reserves for over retained fuel due to shippers of $1.2 million at December 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. | ||||||||||||
Schedule of Fair Value and Carrying Amount of PRM Financial Instruments [Table Text Block] | ' | ||||||||||||
The following table summarizes the fair value and carrying amount of the Company's financial instruments at December 31, 2013 and December 31, 2012. | |||||||||||||
2013 | 2012 | ||||||||||||
December 31 (In millions) | Carrying Amount | Fair | Carrying Amount | Fair | |||||||||
Value | Value | ||||||||||||
Long-Term Debt | |||||||||||||
OG&E Senior Notes | $ | 2,154.50 | $ | 2,405.00 | $ | 1,904.20 | $ | 2,401.60 | |||||
OG&E Industrial Authority Bonds | 135.4 | 135.4 | 135.4 | 135.4 | |||||||||
OG&E Tinker Debt | 10.3 | 9.1 | 10.7 | 10 | |||||||||
OGE Energy Senior Notes | 99.9 | 103.1 | 99.9 | 106.3 | |||||||||
Enogex LLC Senior Notes | (A) | (A) | 448.4 | 493.4 | |||||||||
Enogex LLC Term Loan | (A) | (A) | 250 | 250 | |||||||||
(A) | As a result of the formation of Enable on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company's consolidated financial statements do not include any obligations for the Enogex LLC Senior Notes and Enogex LLC Term Loan as of May 1, 2013. |
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | ' | |||||||||
Quantitative Disclosures Related to Derivative Instruments | ||||||||||
At December 31, 2013, the Company has no derivative instruments that were designated as cash flow hedges. | ||||||||||
At December 31, 2012, the Company had the following derivative instruments that were designated as cash flow hedges. | ||||||||||
(In millions) | 2012 Gross Notional Volume (A) | |||||||||
Enogex hedges | ||||||||||
Natural gas sales | 3.7 | |||||||||
(A) | Natural gas in MMBtu's. | |||||||||
At December 31, 2012, the Company had the following derivative instruments that were not designated as hedging instruments. | ||||||||||
(In millions) | Gross Notional Volume (A) | |||||||||
Purchases | Sales | |||||||||
Natural gas (B) | ||||||||||
Physical (C)(D) | 7 | 30.1 | ||||||||
Fixed Swaps/Futures | 16.2 | 17.9 | ||||||||
Basis Swaps | 7.3 | 6.7 | ||||||||
(A) | Natural gas in MMBtu's. | |||||||||
(B) | 95.1 percent of the natural gas contracts have durations of one year or less, 2.9 percent have durations of more than one year and less than two years and 2.0 percent have durations of more than two years. | |||||||||
(C) | Of the natural gas physical purchases and sales volumes not designated as hedges, the majority are priced based on a monthly or daily index and the fair value is subject to little or no market price risk. | |||||||||
(D) | Natural gas physical sales volumes exceed natural gas physical purchase volumes due to the marketing of natural gas volumes purchased via Enogex's processing contracts, which are not derivative instruments and are excluded from the table above. | |||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||
Balance Sheet Presentation Related to Derivative Instruments | ||||||||||
The Company had no derivative instruments included in its Consolidated Balance Sheet at December 31, 2013. The fair value of the derivative instruments that are presented in the Company's Consolidated Balance Sheet at December 31, 2012 are as follows: | ||||||||||
Fair Value | ||||||||||
Instrument | Balance Sheet Location | Assets | Liabilities | |||||||
(In millions) | ||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||
Natural Gas | ||||||||||
Financial Futures/Swaps | Other Current Assets | $ | — | $ | 0.5 | |||||
Total | $ | — | $ | 0.5 | ||||||
Derivatives Not Designated as Hedging Instruments | ||||||||||
Natural Gas | ||||||||||
Financial Futures/Swaps | Current PRM | $ | 0.1 | $ | — | |||||
Other Current Assets | 5 | 4.7 | ||||||||
Physical Purchases/Sales | Current PRM | 0.4 | 0.3 | |||||||
Total | $ | 5.5 | $ | 5 | ||||||
Total Gross Derivatives (A) | $ | 5.5 | $ | 5.5 | ||||||
(A) | See Note 5 for a reconciliation of the Company's total derivatives fair value to the Company's Consolidated Balance Sheet at December 31, 2012. | |||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||
Income Statement Presentation Related to Derivative Instruments | ||||||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2013. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
Natural Gas Financial Futures/Swaps | $ | (0.2 | ) | $ | 5.2 | $ | — | |||
Interest Rate Swap | — | (0.2 | ) | — | ||||||
Total | $ | (0.2 | ) | $ | 5 | $ | — | |||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (6.1 | ) | |||||||
Natural Gas Financial Futures/Swaps | 1 | |||||||||
Total | $ | (5.1 | ) | |||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2012. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
Natural Gas Financial Futures/Swaps | 0.5 | 5.2 | — | |||||||
Interest Rate Swap | — | (0.4 | ) | — | ||||||
Total | $ | 0.5 | $ | 4.8 | $ | — | ||||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (11.7 | ) | |||||||
Natural Gas Financial Futures/Swaps | 1.1 | |||||||||
Total | $ | (10.6 | ) | |||||||
The following tables present the effect of derivative instruments on the Company's Consolidated Statement of Income in 2011. | ||||||||||
Derivatives in Cash Flow Hedging Relationships | ||||||||||
(In millions) | Amount Recognized in Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) into Income | ||||||||
Amount Recognized in Income | ||||||||||
NGLs Financial Options | $ | (8.4 | ) | $ | (9.8 | ) | $ | — | ||
Natural Gas Financial Futures/Swaps | 2.9 | (30.4 | ) | — | ||||||
Interest Rate Swap | — | (0.4 | ) | — | ||||||
Total | $ | (5.5 | ) | $ | (40.6 | ) | $ | — | ||
Derivatives Not Designated as Hedging Instruments | ||||||||||
(In millions) | Amount Recognized in Income | |||||||||
Natural Gas Physical Purchases/Sales | $ | (10.0 | ) | |||||||
Natural Gas Financial Futures/Swaps | 0.4 | |||||||||
Total | $ | (9.6 | ) |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | |||||||||||||||||
The following table summarizes the Company's pre-tax compensation expense and related income tax benefit for the years ended December 31, 2013, 2012 and 2011 related to the Company's performance units and restricted stock. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.4 | $ | 8 | $ | 8.2 | ||||||||||||
Earnings per share | 2.3 | 4.2 | 5.5 | |||||||||||||||
Total performance units | 10.7 | 12.2 | 13.7 | |||||||||||||||
Restricted stock | 0.4 | 0.6 | 1 | |||||||||||||||
Total compensation expense | 11.1 | 12.8 | 14.7 | |||||||||||||||
Less: Amount paid by unconsolidated affiliates | 3.1 | — | — | |||||||||||||||
Net compensation expense | $ | 8 | $ | 12.8 | $ | 14.7 | ||||||||||||
Income tax benefit | $ | 3.1 | $ | 4.9 | $ | 5.7 | ||||||||||||
Performance Units Total Shareholder Return Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||
The number of performance units granted based on total shareholder return and the assumptions used to calculate the grant date fair value of the performance units based on total shareholder return are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Number of units granted | 316,162 | 338,678 | 427,442 | |||||||||||||||
Fair value of units granted | $ | 25.89 | $ | 25.91 | $ | 23.05 | ||||||||||||
Expected dividend yield | 2.8 | % | 3 | % | 3.2 | % | ||||||||||||
Expected price volatility | 20 | % | 22 | % | 33 | % | ||||||||||||
Risk-free interest rate | 0.37 | % | 0.38 | % | 1.4 | % | ||||||||||||
Expected life of units (in years) | 2.84 | 2.87 | 2.87 | |||||||||||||||
Performance Units Earnings Per Share Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||
The number of performance units granted based on earnings per share and the grant date fair value are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Number of units granted | 74,570 | 81,594 | 142,476 | |||||||||||||||
Fair value of units granted | $ | 26.73 | $ | 23.82 | $ | 20.81 | ||||||||||||
Restricted Stock Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||
The number of shares of restricted stock granted and the grant date fair value are shown in the following table. | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Shares of restricted stock granted | 5,940 | 10,824 | 35,804 | |||||||||||||||
Fair value of restricted stock granted | $ | 29.71 | $ | 26.72 | $ | 24.41 | ||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | |||||||||||||||||
A summary of the activity for the Company's non-vested performance units and restricted stock at December 31, 2013 and changes in 2013 are shown in the following table. | ||||||||||||||||||
Performance Units | ||||||||||||||||||
Total Shareholder Return | Earnings Per Share | Restricted Stock | ||||||||||||||||
Number | Weighted-Average | Number | Weighted-Average | Number | Weighted-Average | |||||||||||||
of Units | Grant Date | of Units | Grant Date | of Shares | Grant Date | |||||||||||||
Fair Value | Fair Value | Fair Value | ||||||||||||||||
Units/Shares Non-Vested at 12/31/12 | 691,862 | $ | 24.4 | 202,078 | $ | 22 | 49,106 | $ | 23.61 | |||||||||
Granted | 316,162 | (A) | $ | 25.89 | 74,570 | (A) | $ | 26.73 | 5,940 | $ | 29.71 | |||||||
Modification | 87,150 | (B) | $ | 36.29 | 87,170 | (B) | $ | 30.62 | N/A | N/A | ||||||||
Vested | (355,078 | ) | $ | 23.05 | (118,350 | ) | $ | 20.81 | (30,242 | ) | $ | 22.57 | ||||||
Forfeited | (33,114 | ) | $ | 24.96 | (9,792 | ) | $ | 23.34 | (1,176 | ) | $ | 26.87 | ||||||
Units/Shares Non-Vested at 12/31/13 | 706,982 | $ | 25.9 | 235,676 | $ | 25.28 | 23,628 | $ | 26.3 | |||||||||
Units/Shares Expected to Vest | 633,808 | (C) | 209,938 | (C) | 23,628 | |||||||||||||
(A) | For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from 0 percent to 200 percent of the target. | |||||||||||||||||
Fair Value of Vested Performance Units and Restricted Stock [Table Text Block] | ' | |||||||||||||||||
A summary of the Company's fair value for its vested performance units and restricted stock is shown in the following table. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.2 | $ | 7.4 | $ | 7.4 | ||||||||||||
Earnings per share | 4.9 | 4.1 | 3.9 | |||||||||||||||
Restricted stock | 0.7 | 0.7 | 1 | |||||||||||||||
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | ' | |||||||||||||||||
A summary of the Company's unrecognized compensation cost for its non-vested performance units and restricted stock and the weighted-average periods over which the compensation cost is expected to be recognized are shown in the following table. | ||||||||||||||||||
December 31, 2013 | Unrecognized Compensation Cost (in millions) | Weighted Average to be Recognized (in years) | ||||||||||||||||
Performance units | ||||||||||||||||||
Total shareholder return | $ | 8.4 | 1.63 | |||||||||||||||
Earnings per share | 1.8 | 1.49 | ||||||||||||||||
Total performance units | 10.2 | |||||||||||||||||
Restricted stock | 0.2 | 1.63 | ||||||||||||||||
Total | $ | 10.4 | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||
A summary of the activity for the Company's stock options at December 31, 2013 and changes during 2013 are shown in the following table. | ||||||||||||||||||
(dollars in millions) | Number of Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | Weighted-Average Remaining Contractual Term | ||||||||||||||
Options Outstanding at 12/31/12 | 39,200 | $ | 11.4 | |||||||||||||||
Exercised | (39,200 | ) | $ | (11.40 | ) | $ | 1.4 | |||||||||||
Options Outstanding at 12/31/13 | — | $ | — | $ | — | 0 | years | |||||||||||
Options Fully Vested and Exercisable at 12/31/13 | — | $ | — | $ | — | 0 | years | |||||||||||
Exercised Stock Options [Table Text Block] | ' | |||||||||||||||||
A summary of the activity for the Company's exercised stock options in 2013, 2012 and 2011 are shown in the following table. | ||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||
Intrinsic value (A) | $ | 1.4 | $ | 2 | $ | 2.2 | ||||||||||||
Cash received from stock options exercised | 0.4 | 0.8 | 1.3 | |||||||||||||||
(A) | The difference between the market value on the date of exercise and the option exercise price. | |||||||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||||||
A summary of the activity for the Company's performance units and restricted stock at December 31, 2013 and changes in 2013 are shown in the following table. | ||||||||||||||||||
Performance Units | ||||||||||||||||||
Total Shareholder Return | Earnings Per Share | Restricted Stock | ||||||||||||||||
(dollars in millions) | Number | Aggregate Intrinsic Value | Number | Aggregate Intrinsic Value | Number | Aggregate Intrinsic Value | ||||||||||||
of Units | of Units | of Shares | ||||||||||||||||
Units/Shares Outstanding at 12/31/12 | 1,069,128 | 327,838 | 49,106 | |||||||||||||||
Granted | 316,162 | (A) | 74,570 | (A) | 5,940 | |||||||||||||
Modification | 87,150 | (B) | 87,170 | (B) | N/A | |||||||||||||
Converted | (377,266 | ) | (C) | $ | 22.1 | (125,760 | ) | (C) | $ | 7.4 | N/A | |||||||
Vested | N/A | N/A | (30,242 | ) | $ | 0.9 | ||||||||||||
Forfeited | (33,114 | ) | (9,792 | ) | (1,176 | ) | ||||||||||||
Units/Shares Outstanding at 12/31/13 | 1,062,060 | $ | 50.9 | 354,026 | $ | 13.9 | 23,628 | $ | 0.8 | |||||||||
Units/Shares Fully Vested at 12/31/13 | 355,078 | $ | 19.3 | 118,350 | $ | 8 | ||||||||||||
(A) | For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from 0 percent to 200 percent of the target. | |||||||||||||||||
(B) | These amounts represent the performance unit grants previously based on earnings before interest, taxes, depreciation and amortization that were converted to performance units based on total shareholder return or earnings per share as a result of the formation of Enable. | |||||||||||||||||
(C) | These amounts represent performance units that vested at December 31, 2012 which were settled in February 2013. |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||||
The following table discloses information about investing and financing activities that affected recognized assets and liabilities but which did not result in cash receipts or payments. Also disclosed in the table is cash paid for interest, net of interest capitalized, and cash paid for income taxes, net of income tax refunds. | ||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||||||||
Installment payments for Tinker electric distribution system | $ | — | $ | 10.6 | $ | — | ||||
Power plant long-term service agreement | 9.7 | — | 1.7 | |||||||
Investment in Enable (Note 3) | 1,248.60 | — | — | |||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||
Cash Paid During the Period for | ||||||||||
Interest (net of interest capitalized) (A) | $ | 151.1 | $ | 161.3 | $ | 138.9 | ||||
Income taxes (net of income tax refunds) | (1.1 | ) | (9.1 | ) | 4.7 | |||||
(A) | Net of interest capitalized of $5.4 million, $8.0 million and $19.1 million in 2013, 2012 and 2011, respectively. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||
The items comprising income tax expense are as follows: | ||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||
Provision (Benefit) for Current Income Taxes | ||||||||||
Federal | $ | — | $ | (9.1 | ) | $ | (5.4 | ) | ||
State | 4.3 | 0.5 | 0.1 | |||||||
Total Provision (Benefit) for Current Income Taxes | 4.3 | (8.6 | ) | (5.3 | ) | |||||
Provision for Deferred Income Taxes, net | ||||||||||
Federal | 154.4 | 147.3 | 165.5 | |||||||
State | (26.4 | ) | (1.5 | ) | 3.8 | |||||
Total Provision for Deferred Income Taxes, net | 128 | 145.8 | 169.3 | |||||||
Deferred Federal Investment Tax Credits, net | (2.0 | ) | (2.1 | ) | (3.3 | ) | ||||
Total Income Tax Expense | $ | 130.3 | $ | 135.1 | $ | 160.7 | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||
The following schedule reconciles the statutory Federal tax rate to the effective income tax rate: | ||||||||||
Year ended December 31 | 2013 | 2012 | 2011 | |||||||
Statutory Federal tax rate | 35 | % | 35 | % | 35 | % | ||||
Amortization of net unfunded deferred taxes | 0.6 | 0.8 | 0.7 | |||||||
State income taxes, net of Federal income tax benefit | 0.4 | (0.1 | ) | 0.6 | ||||||
Federal investment tax credits, net | (0.4 | ) | (0.4 | ) | (0.7 | ) | ||||
401(k) dividends | (0.5 | ) | (0.5 | ) | (0.5 | ) | ||||
Income attributable to noncontrolling interest | (0.3 | ) | (1.6 | ) | (1.3 | ) | ||||
Federal renewable energy credit (A) | (7.2 | ) | (7.2 | ) | (3.4 | ) | ||||
Uncertain tax positions | 1.5 | — | — | |||||||
Remeasurement of state deferred tax liabilities | (4.1 | ) | — | — | ||||||
Other | (0.1 | ) | — | 0.3 | ||||||
Effective income tax rate | 24.9 | % | 26 | % | 30.7 | % | ||||
(A) | Represents credits associated with the production from OG&E's wind farms. | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||
The deferred tax provisions are recognized as costs in the ratemaking process by the commissions having jurisdiction over the rates charged by OG&E. The components of Deferred Income Taxes at December 31, 2013 and 2012, respectively, were as follows: | ||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||
Current Deferred Income Tax Assets | ||||||||||
Net operating losses | $ | 180.1 | $ | 152.4 | ||||||
Accrued liabilities | 22.3 | 27.1 | ||||||||
Federal tax credits | 8 | 6 | ||||||||
Accrued vacation | 4.7 | 3.8 | ||||||||
Uncollectible accounts | 0.7 | 1 | ||||||||
Total Current Deferred Income Tax Assets | 215.8 | 190.3 | ||||||||
Current Accrued Income Tax Liabilities | ||||||||||
Derivative instruments | — | (2.6 | ) | |||||||
Total Current Accrued Income Tax Liabilities | — | (2.6 | ) | |||||||
Current Deferred Income Tax Assets, net | $ | 215.8 | $ | 187.7 | ||||||
Non-Current Deferred Income Tax Liabilities | ||||||||||
Accelerated depreciation and other property related differences | $ | 1,753.30 | $ | 1,660.30 | ||||||
Investment in Enogex Holdings | — | 638 | ||||||||
Investment in Enable Midstream Partners | 630.5 | — | ||||||||
Company pension plan | 55.1 | 52.4 | ||||||||
Income taxes refundable to customers, net | 21.9 | 21.2 | ||||||||
Regulatory asset | 26.1 | 18.8 | ||||||||
Bond redemption-unamortized costs | 3.6 | 4 | ||||||||
Derivative instruments | 1.6 | 1.5 | ||||||||
Total Non-Current Deferred Income Tax Liabilities | 2,492.10 | 2,396.20 | ||||||||
Non-Current Deferred Income Tax Assets | ||||||||||
Federal tax credits | (105.2 | ) | (69.6 | ) | ||||||
State tax credits | (92.6 | ) | (83.7 | ) | ||||||
Postretirement medical and life insurance benefits | (62.8 | ) | (57.6 | ) | ||||||
Regulatory liabilities | (61.3 | ) | (71.4 | ) | ||||||
Asset retirement obligations | (20.8 | ) | — | |||||||
Net operating losses | (18.8 | ) | (159.1 | ) | ||||||
Other | (4.6 | ) | (4.5 | ) | ||||||
Deferred Federal investment tax credits | (0.7 | ) | (1.5 | ) | ||||||
Total Non-Current Deferred Income Tax Assets | (366.8 | ) | (447.4 | ) | ||||||
Non-Current Deferred Income Tax Liabilities, net | $ | 2,125.30 | $ | 1,948.80 | ||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | |||||||||
Following is a reconciliation of the Company’s total gross unrecognized tax benefits as of the years ended December 31, 2013, 2012, and 2011. | ||||||||||
(Millions) | 2013 | 2012 | 2011 | |||||||
Balance at January 1 | $ | — | $ | — | $ | — | ||||
Tax positions related to current year: | ||||||||||
Additions | 2.7 | — | — | |||||||
Tax positions related to prior years: | ||||||||||
Additions | 5.1 | — | — | |||||||
Balance at December 31 | $ | 7.8 | $ | — | $ | — | ||||
Where applicable, the Company classifies income tax-related interest and penalties as interest expense and other operation and maintenance expense, respectively. During the year ended December 31, 2013, there were no income tax-related interest or penalties recorded with regard to uncertain tax positions. | ||||||||||
Summary of Tax Credit Carryforwards [Table Text Block] | ' | |||||||||
The Company sustained Federal and state tax operating losses through 2012 caused primarily by bonus depreciation and other book verses tax temporary differences. As a result, the Company had accrued Federal and state income tax benefits carrying into 2013. As the Company can no longer carry these losses back to prior periods, these losses are being carried forward for utilization in future years. In addition to the operating losses, the Company was unable to utilize the various tax credits that were generating during these years. These tax losses and credits are being carried as deferred tax assets and will be utilized in future periods. Under current law, the Company anticipates future taxable income will be sufficient to utilize all of the losses and credits before they begin to expire, accordingly no valuation allowance is considered necessary. The following table summarizes these carry forwards: | ||||||||||
(In millions) | Carry Forward Amount | Deferred Tax Asset | Earliest Expiration Date | |||||||
Net operating losses | ||||||||||
State operating loss | $ | 893.6 | $ | 32.8 | 2030 | |||||
Federal operating loss | 474.6 | 166.1 | 2030 | |||||||
Federal tax credits | 113.2 | 113.2 | 2029 | |||||||
State tax credits | ||||||||||
Oklahoma investment tax credits | 106.1 | 69 | N/A | |||||||
Oklahoma capital investment board credits | 7.3 | 7.3 | N/A | |||||||
Oklahoma zero emission tax credits | 24.3 | 16.3 | 2020 | |||||||
Common_Equity_Tables
Common Equity (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity [Abstract] | ' | |||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||
Basic and diluted earnings per share for the Company were calculated as follows: | ||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||
Net Income Attributable to OGE Energy | $ | 387.6 | $ | 355 | $ | 342.9 | ||||
Average Common Shares Outstanding | ||||||||||
Basic average common shares outstanding | 198.2 | 197.1 | 195.8 | |||||||
Effect of dilutive securities: | ||||||||||
Contingently issuable shares (performance units) | 1.2 | 1 | 2.7 | |||||||
Diluted average common shares outstanding | 199.4 | 198.1 | 198.5 | |||||||
Basic Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders | $ | 1.96 | $ | 1.8 | $ | 1.75 | ||||
Diluted Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders | $ | 1.94 | $ | 1.79 | $ | 1.73 | ||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||
OG&E has tax-exempt pollution control bonds with optional redemption provisions that allow the holders to request repayment of the bonds on any business day. The bonds, which can be tendered at the option of the holder during the next 12 months, are as follows: | |||||||
SERIES | DATE DUE | AMOUNT | |||||
(In millions) | |||||||
0.18% | - | 0.34% | Garfield Industrial Authority, January 1, 2025 | $ | 47 | ||
0.10% | - | 0.39% | Muskogee Industrial Authority, January 1, 2025 | 32.4 | |||
0.10% | - | 0.30% | Muskogee Industrial Authority, June 1, 2027 | 56 | |||
Total (redeemable during next 12 months) | $ | 135.4 | |||||
ShortTerm_Debt_and_Credit_Faci1
Short-Term Debt and Credit Facilities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Short-term Debt [Abstract] | ' | |||||||||||
Schedule of Line of Credit Facilities [Table Text Block] | ' | |||||||||||
The following table provides information regarding the Company's revolving credit agreements and available cash at December 31, 2013. | ||||||||||||
Aggregate | Amount | Weighted-Average | ||||||||||
Entity | Commitment | Outstanding (A) | Interest Rate | Maturity | ||||||||
(In millions) | ||||||||||||
OGE Energy (B) | $ | 750 | $ | 439.6 | 0.3 | % | (D) | December 13, 2017 | (E) | |||
OG&E (C) | 400 | 2.1 | 0.53 | % | (D) | December 13, 2017 | (E) | |||||
1,150.00 | 441.7 | 0.3 | % | |||||||||
Cash | 6.8 | N/A | N/A | N/A | ||||||||
Total | $ | 1,156.80 | $ | 441.7 | 0.3 | % | ||||||
(A) | Includes direct borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit at December 31, 2013. | |||||||||||
(B) | This bank facility is available to back up OGE Energy's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
(C) | This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
(D) | Represents the weighted-average interest rate for the outstanding borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit. | |||||||||||
(E) | In December 2011, the Company and OG&E entered into unsecured five-year revolving credit agreements to total in the aggregate $1,150.0 million ($750.0 million for the Company and $400.0 million for OG&E). Each of the credit facilities contain an option, which may be exercised up to two times, to extend the term for an additional year, subject to consent of a specified percentage of the lenders. Effective July 29, 2013, the Company and OG&E utilized one of these one-year extensions, and received consent from all of the lenders, to extend the maturity of their credit agreements to December 13, 2017. |
Retirement_Plans_and_Postretir1
Retirement Plans and Postretirement Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Retirement Plans and Postretirement Benefit Plans [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | ' | |||||||||||||||||||||||||||
Rate Assumptions | ||||||||||||||||||||||||||||
Pension Plan and | Postretirement | |||||||||||||||||||||||||||
Restoration of Retirement Income Plan | Benefit Plans | |||||||||||||||||||||||||||
Year ended December 31 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Discount rate | 4.6 | % | 3.7 | % | 4.5 | % | 4.6 | % | 3.6 | % | 4.5 | % | ||||||||||||||||
Rate of return on plans' assets | 8 | % | 8 | % | 8 | % | 4 | % | 4 | % | 6.5 | % | ||||||||||||||||
Compensation increases | 4.2 | % | 4.2 | % | 4.4 | % | N/A | N/A | N/A | |||||||||||||||||||
Assumed health care cost trend: | ||||||||||||||||||||||||||||
Initial trend | N/A | N/A | N/A | 8.35 | % | 8.55 | % | 8.75 | % | |||||||||||||||||||
Ultimate trend rate | N/A | N/A | N/A | 4.48 | % | 4.48 | % | 4.48 | % | |||||||||||||||||||
Ultimate trend year | N/A | N/A | N/A | 2028 | 2028 | 2028 | ||||||||||||||||||||||
N/A - not applicable | ||||||||||||||||||||||||||||
Schedule of Net Funded Status [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table presents the status of the Company's postretirement benefit plans at December 31, 2013 and 2012. These amounts have been recorded in Accrued Benefit Obligations with the offset in Accumulated Other Comprehensive Loss (except OG&E's portion which is recorded as a regulatory asset as discussed in Note 1) in the Company's Consolidated Balance Sheet. The amounts in Accumulated Other Comprehensive Loss and those recorded as a regulatory asset represent a net periodic benefit cost to be recognized in the Consolidated Statements of Income in future periods. | ||||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | ||||||||||||||||||||||||||
Benefit obligations | $ | (258.2 | ) | $ | (301.0 | ) | ||||||||||||||||||||||
Fair value of plan assets | 61.4 | 59.6 | ||||||||||||||||||||||||||
Funded status at end of year | $ | (196.8 | ) | $ | (241.4 | ) | ||||||||||||||||||||||
The assumed health care cost trend rates have a significant effect on the amounts reported for postretirement medical benefit plans. Future health care cost trend rates are assumed to be 8.35 percent in 2014 | ||||||||||||||||||||||||||||
The following table presents the status of the Company's Pension Plan and Restoration of Retirement Income Plan at December 31, 2013 and 2012. These amounts have been recorded in Accrued Benefit Obligations with the offset in Accumulated Other Comprehensive Loss (except OG&E's portion which is recorded as a regulatory asset as discussed in Note 1) in the Company's Consolidated Balance Sheet. The amounts in Accumulated Other Comprehensive Loss and those recorded as a regulatory asset represent a net periodic benefit cost to be recognized in the Consolidated Statements of Income in future periods. | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | |||||||||||||||||||||||||||
Income Plan | ||||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Benefit obligations | $ | (658.1 | ) | $ | (747.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | ||||||||||||||||
Fair value of plan assets | 654.9 | 626 | — | — | ||||||||||||||||||||||||
Funded status at end of year | $ | (3.2 | ) | $ | (121.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | ||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||||||||
The Medicare Prescription Drug, Improvement and Modernization Act of 2003 expanded coverage for prescription drugs. The following table summarizes the gross benefit payments the Company expects to pay related to its postretirement benefit plans, including prescription drug benefits. | ||||||||||||||||||||||||||||
Gross Projected | ||||||||||||||||||||||||||||
Postretirement | ||||||||||||||||||||||||||||
Benefit | ||||||||||||||||||||||||||||
(In millions) | Payments | |||||||||||||||||||||||||||
2014 | $ | 15.5 | ||||||||||||||||||||||||||
2015 | 16.1 | |||||||||||||||||||||||||||
2016 | 16.7 | |||||||||||||||||||||||||||
2017 | 17.2 | |||||||||||||||||||||||||||
2018 | 17.7 | |||||||||||||||||||||||||||
After 2018 | 90.7 | |||||||||||||||||||||||||||
The following table summarizes the benefit payments the Company expects to pay related to its Pension Plan and Restoration of Retirement Income Plan. These expected benefits are based on the same assumptions used to measure the Company's benefit obligation at the end of the year and include benefits attributable to estimated future employee service. | ||||||||||||||||||||||||||||
Projected Benefit Payments | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
2014 | $ | 93.2 | ||||||||||||||||||||||||||
2015 | 82 | |||||||||||||||||||||||||||
2016 | 76.7 | |||||||||||||||||||||||||||
2017 | 71.7 | |||||||||||||||||||||||||||
2018 | 64.7 | |||||||||||||||||||||||||||
After 2018 | 270.1 | |||||||||||||||||||||||||||
Projected Benefit Obligation Funded Status Thresholds [Table Text Block] | ' | |||||||||||||||||||||||||||
The Pension Plan assets are held in a trust which follows an investment policy and strategy designed to reduce the funded status volatility of the Plan by utilizing liability driven investing. The purpose of liability driven investing is to structure the asset portfolio to more closely resemble the pension liability and thereby more effectively hedge against changes in the liability. The investment policy follows a glide path approach that shifts a higher portfolio weighting to fixed income as the Plan's funded status increases. The table below sets forth the targeted fixed income and equity allocations at different funded status levels. | ||||||||||||||||||||||||||||
Projected Benefit Obligation Funded Status Thresholds | <90% | 95% | 100% | 105% | 110% | 115% | 120% | |||||||||||||||||||||
Fixed income | 50% | 58% | 65% | 73% | 80% | 85% | 90% | |||||||||||||||||||||
Equity | 50% | 42% | 35% | 27% | 20% | 15% | 10% | |||||||||||||||||||||
Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |||||||||||||||||||||
Pension Plan Equity Asset Allocation Table [Table Text Block] | ' | |||||||||||||||||||||||||||
Within the portfolio's overall allocation to equities, the funds are allocated according to the guidelines in the table below. | ||||||||||||||||||||||||||||
Asset Class | Target Allocation | Minimum | Maximum | |||||||||||||||||||||||||
Domestic All-Cap/Large Cap Equity | 50% | 50% | 60% | |||||||||||||||||||||||||
Domestic Mid-Cap Equity | 15% | 5% | 25% | |||||||||||||||||||||||||
Domestic Small-Cap Equity | 15% | 5% | 25% | |||||||||||||||||||||||||
International Equity | 20% | 10% | 30% | |||||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||||
The following tables summarize the postretirement benefit plans investments that are measured at fair value on a recurring basis at December 31, 2013 and 2012. There were no Level 2 investments held by the postretirement benefit plans at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
(In millions) | December 31, 2013 | Level 1 | Level 3 | |||||||||||||||||||||||||
Group retiree medical insurance contract (A) | $ | 53.1 | $ | — | $ | 53.1 | ||||||||||||||||||||||
Mutual funds investment | ||||||||||||||||||||||||||||
U.S. equity investments | 7.9 | 7.9 | — | |||||||||||||||||||||||||
Money market funds investment | 0.4 | 0.4 | — | |||||||||||||||||||||||||
Total Plan investments | $ | 61.4 | $ | 8.3 | $ | 53.1 | ||||||||||||||||||||||
(In millions) | December 31, 2012 | Level 1 | Level 3 | |||||||||||||||||||||||||
Group retiree medical insurance contract (A) | $ | 53.3 | $ | — | $ | 53.3 | ||||||||||||||||||||||
Mutual funds investment | ||||||||||||||||||||||||||||
U.S. equity investments | 6 | 6 | — | |||||||||||||||||||||||||
Money market funds investment | 0.3 | 0.3 | — | |||||||||||||||||||||||||
Total Plan investments | $ | 59.6 | $ | 6.3 | $ | 53.3 | ||||||||||||||||||||||
(A) | This category represents a group retiree medical insurance contract which invests in a pool of common stocks, bonds and money market accounts, of which a significant portion is comprised of mortgage-backed securities. | |||||||||||||||||||||||||||
The following tables summarize the Pension Plan's investments that are measured at fair value on a recurring basis at December 31, 2013 and 2012. There were no Level 3 investments held by the Pension Plan at December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
(In millions) | December 31, 2013 | Level 1 | Level 2 | |||||||||||||||||||||||||
Common stocks | ||||||||||||||||||||||||||||
U.S. common stocks | $ | 236.8 | $ | 236.8 | $ | — | ||||||||||||||||||||||
Foreign common stocks | 39.3 | 39.3 | — | |||||||||||||||||||||||||
U.S. Government obligations | ||||||||||||||||||||||||||||
U.S. treasury notes and bonds (A) | 159.8 | 159.8 | — | |||||||||||||||||||||||||
Mortgage-backed securities | 50.3 | — | 50.3 | |||||||||||||||||||||||||
Bonds, debentures and notes (B) | ||||||||||||||||||||||||||||
Corporate fixed income and other securities | 110.6 | — | 110.6 | |||||||||||||||||||||||||
Mortgage-backed securities | 22.3 | — | 22.3 | |||||||||||||||||||||||||
Commingled fund (C) | 29.2 | — | 29.2 | |||||||||||||||||||||||||
Common/collective trust (D) | 26 | — | 26 | |||||||||||||||||||||||||
Foreign government bonds | 4 | — | 4 | |||||||||||||||||||||||||
U.S. municipal bonds | 2 | — | 2 | |||||||||||||||||||||||||
Interest-bearing cash | 0.1 | 0.1 | — | |||||||||||||||||||||||||
Forward contracts | ||||||||||||||||||||||||||||
Receivable (foreign currency) | 1.1 | — | 1.1 | |||||||||||||||||||||||||
Payable (foreign currency) | (1.1 | ) | — | (1.1 | ) | |||||||||||||||||||||||
Total Plan investments | $ | 680.4 | $ | 436 | $ | 244.4 | ||||||||||||||||||||||
Receivable from broker for securities sold | 11.5 | |||||||||||||||||||||||||||
Interest and dividends receivable | 3.2 | |||||||||||||||||||||||||||
Payable to broker for securities purchased | (40.2 | ) | ||||||||||||||||||||||||||
Total Plan assets | $ | 654.9 | ||||||||||||||||||||||||||
(In millions) | December 31, 2012 | Level 1 | Level 2 | |||||||||||||||||||||||||
Common stocks | ||||||||||||||||||||||||||||
U.S. common stocks | $ | 232.2 | $ | 232.2 | $ | — | ||||||||||||||||||||||
Foreign common stocks | 39.9 | 39.9 | — | |||||||||||||||||||||||||
U.S. Government obligations | ||||||||||||||||||||||||||||
U.S. treasury notes and bonds (A) | 138.6 | 138.6 | — | |||||||||||||||||||||||||
Mortgage-backed securities | 55.8 | — | 55.8 | |||||||||||||||||||||||||
Bonds, debentures and notes (B) | ||||||||||||||||||||||||||||
Corporate fixed income and other securities | 98.4 | — | 98.4 | |||||||||||||||||||||||||
Mortgage-backed securities | 13.5 | — | 13.5 | |||||||||||||||||||||||||
Commingled fund (C) | 34.9 | — | 34.9 | |||||||||||||||||||||||||
Common/collective trust (D) | 25.6 | — | 25.6 | |||||||||||||||||||||||||
Foreign government bonds | 3.9 | — | 3.9 | |||||||||||||||||||||||||
U.S. municipal bonds | 0.8 | — | 0.8 | |||||||||||||||||||||||||
Interest-bearing cash | 0.2 | 0.2 | — | |||||||||||||||||||||||||
Preferred stocks (foreign) | — | — | — | |||||||||||||||||||||||||
Forward contracts | ||||||||||||||||||||||||||||
Receivable (foreign currency) | 0.4 | — | 0.4 | |||||||||||||||||||||||||
Payable (foreign currency) | (0.4 | ) | — | (0.4 | ) | |||||||||||||||||||||||
Total Plan investments | $ | 643.8 | $ | 410.9 | $ | 232.9 | ||||||||||||||||||||||
Receivable from broker for securities sold | 0.8 | |||||||||||||||||||||||||||
Interest and dividends receivable | 2.8 | |||||||||||||||||||||||||||
Payable to broker for securities purchased | (21.4 | ) | ||||||||||||||||||||||||||
Total Plan assets | $ | 626 | ||||||||||||||||||||||||||
(A) | This category represents U.S. treasury notes and bonds with a Moody's Investors Services rating of Aaa and Government Agency Bonds with a Moody's Investors Services rating of A1 or higher. | |||||||||||||||||||||||||||
(B) | This category primarily represents U.S. corporate bonds with an investment grade rating at or above Baa3 or BBB- by Moody's Investors Services, Standard & Poor's Ratings Services or Fitch Ratings. | |||||||||||||||||||||||||||
(C) | This category represents units of participation in a commingled fund that primarily invested in stocks of international companies and emerging markets. | |||||||||||||||||||||||||||
(D) | This category represents units of participation in an investment pool which primarily invests in foreign or domestic bonds, debentures, mortgages, equipment or other trust certificates, notes, obligations issued or guaranteed by the U.S. Government or its agencies, bank certificates of deposit, bankers' acceptances and repurchase agreements, high grade commercial paper and other instruments with money market characteristics with a fixed or variable interest rate. There are no restrictions on redemptions in the common/collective trust. | |||||||||||||||||||||||||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table summarizes the postretirement benefit plans investments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3). | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | |||||||||||||||||||||||||||
Group retiree medical insurance contract | ||||||||||||||||||||||||||||
Beginning balance | $ | 53.3 | ||||||||||||||||||||||||||
Net unrealized gains related to instruments held at the reporting date | (0.5 | ) | ||||||||||||||||||||||||||
Interest income | 1.1 | |||||||||||||||||||||||||||
Dividend income | 0.6 | |||||||||||||||||||||||||||
Realized gains | 0.4 | |||||||||||||||||||||||||||
Administrative expenses and charges | (0.1 | ) | ||||||||||||||||||||||||||
Claims paid | (1.7 | ) | ||||||||||||||||||||||||||
Ending balance | $ | 53.1 | ||||||||||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||||||||||||||||
A one-percentage point change in the assumed health care cost trend rate would have the following effects: | ||||||||||||||||||||||||||||
ONE-PERCENTAGE POINT INCREASE | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Effect on aggregate of the service and interest cost components | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Effect on accumulated postretirement benefit obligations | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||||
ONE-PERCENTAGE POINT DECREASE | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||
Effect on aggregate of the service and interest cost components | $ | 0.1 | $ | 0.1 | $ | 0.1 | ||||||||||||||||||||||
Effect on accumulated postretirement benefit obligations | 0.6 | 0.9 | 0.6 | |||||||||||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table presents the status of the Company's Pension Plan, the Restoration of Retirement Income Plan and the postretirement benefit plans for 2013 and 2012. The benefit obligation for the Company's Pension Plan and the Restoration of Retirement Income Plan represents the projected benefit obligation, while the benefit obligation for the postretirement benefit plans represents the accumulated postretirement benefit obligation. The accumulated postretirement benefit obligation for the Company's Pension Plan and Restoration of Retirement Income Plan differs from the projected benefit obligation in that the former includes no assumption about future compensation levels. The accumulated postretirement benefit obligation for the Pension Plan and the Restoration of Retirement Income Plan at December 31, 2013 was $623.4 million and $12.9 million, respectively. The accumulated postretirement benefit obligation for the Pension Plan and the Restoration of Retirement Income Plan at December 31, 2012 was $705.2 million and $12.7 million, respectively. The details of the funded status of the Pension Plan, the Restoration of Retirement Income Plan and the postretirement benefit plans and the amounts included in the Consolidated Balance Sheets are as follows: | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | Postretirement | ||||||||||||||||||||||||||
Income Plan | Benefit Plans | |||||||||||||||||||||||||||
December 31 (In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||||||
Beginning obligations | $ | (747.1 | ) | $ | (697.7 | ) | $ | (14.5 | ) | $ | (13.3 | ) | $ | (301.0 | ) | $ | (280.6 | ) | ||||||||||
Service cost | (19.0 | ) | (17.9 | ) | (1.2 | ) | (1.0 | ) | (4.3 | ) | (4.1 | ) | ||||||||||||||||
Interest cost | (26.7 | ) | (30.1 | ) | (0.5 | ) | (0.6 | ) | (10.3 | ) | (11.9 | ) | ||||||||||||||||
Plan amendments | — | — | — | — | — | — | ||||||||||||||||||||||
Plan settlements | 67.5 | — | — | — | — | — | ||||||||||||||||||||||
Participants' contributions | — | — | — | — | (3.4 | ) | (3.5 | ) | ||||||||||||||||||||
Medicare subsidies received | — | — | — | — | — | (0.5 | ) | |||||||||||||||||||||
Actuarial gains (losses) | 53 | (61.4 | ) | 2 | (1.8 | ) | 46.7 | (12.9 | ) | |||||||||||||||||||
Benefits paid | 14.2 | 60 | 0.2 | 2.2 | 14.1 | 12.5 | ||||||||||||||||||||||
Ending obligations | $ | (658.1 | ) | $ | (747.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | $ | (258.2 | ) | $ | (301.0 | ) | ||||||||||
Change in Plans' Assets | ||||||||||||||||||||||||||||
Beginning fair value | $ | 626 | $ | 589.8 | $ | — | $ | — | $ | 59.6 | $ | 61 | ||||||||||||||||
Actual return on plans' assets | 75.6 | 61.2 | — | — | 3.7 | 4.5 | ||||||||||||||||||||||
Employer contributions | 35 | 35 | 0.2 | 2.2 | 8.8 | 2.6 | ||||||||||||||||||||||
Plan settlements | (67.5 | ) | — | — | — | — | — | |||||||||||||||||||||
Participants' contributions | — | — | — | — | 3.4 | 3.5 | ||||||||||||||||||||||
Medicare subsidies received | — | — | — | — | — | 0.5 | ||||||||||||||||||||||
Benefits paid | (14.2 | ) | (60.0 | ) | (0.2 | ) | (2.2 | ) | (14.1 | ) | (12.5 | ) | ||||||||||||||||
Ending fair value | $ | 654.9 | $ | 626 | $ | — | $ | — | $ | 61.4 | $ | 59.6 | ||||||||||||||||
Funded status at end of year | $ | (3.2 | ) | $ | (121.1 | ) | $ | (14.0 | ) | $ | (14.5 | ) | $ | (196.8 | ) | $ | (241.4 | ) | ||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||||||||||||||||||||
Net Periodic Benefit Cost | ||||||||||||||||||||||||||||
Pension Plan | Restoration of Retirement | Postretirement Benefit Plans | ||||||||||||||||||||||||||
Income Plan | ||||||||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 19 | $ | 17.9 | $ | 17.6 | $ | 1.2 | $ | 1 | $ | 1 | $ | 4.3 | $ | 4.1 | $ | 3.5 | ||||||||||
Interest cost | 26.7 | 30.1 | 33.3 | 0.5 | 0.6 | 0.6 | 10.3 | 11.9 | 12.5 | |||||||||||||||||||
Expected return on plan assets | (48.4 | ) | (46.0 | ) | (45.5 | ) | — | — | — | (2.5 | ) | (3.0 | ) | (5.1 | ) | |||||||||||||
Amortization of transition obligation | — | — | — | — | — | — | — | 2.7 | 2.7 | |||||||||||||||||||
Amortization of net loss | 26.5 | 23.8 | 19.2 | 0.4 | 0.4 | 0.4 | 21.5 | 20.6 | 18.3 | |||||||||||||||||||
Amortization of unrecognized prior service cost (A) | 1.8 | 2.2 | 2.4 | 0.3 | 0.7 | 0.7 | (16.5 | ) | (16.5 | ) | (16.5 | ) | ||||||||||||||||
Settlement | 22.4 | — | — | — | 0.9 | — | — | — | — | |||||||||||||||||||
Total net periodic benefit cost | 48 | 28 | 27 | 2.4 | 3.6 | 2.7 | 17.1 | 19.8 | 15.4 | |||||||||||||||||||
Less: Amount paid by unconsolidated affiliates | 5.9 | — | — | 0.1 | — | — | 1.5 | — | — | |||||||||||||||||||
Net periodic benefit cost (B) | $ | 42.1 | $ | 28 | $ | 27 | $ | 2.3 | $ | 3.6 | $ | 2.7 | $ | 15.6 | $ | 19.8 | $ | 15.4 | ||||||||||
(A) | Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. | |||||||||||||||||||||||||||
(B) | In addition to the $60.0 million, $51.4 million and $45.1 million and of net periodic benefit cost recognized in 2013, 2012 and 2011, respectively, the Company recognized the following: | |||||||||||||||||||||||||||
• | an increase in pension expense in 2013, 2012 and 2011 of $5.8 million, $8.3 million and $10.8 million, respectively, to maintain the allowable amount to be recovered for pension expense in the Oklahoma jurisdiction, which are included in the Pension tracker regulatory asset or liability (see Note 1); and | |||||||||||||||||||||||||||
• | an increase in postretirement medical expense in 2013, 2012 and 2011 of $0.6 million, $0.8 million and $3.5 million, respectively, to maintain the allowable amount to be recovered for postretirement medical expense in the Oklahoma jurisdiction which are included in the Pension tracker regulatory asset or liability (see Note 1); | |||||||||||||||||||||||||||
• | a deferral of pension expense in 2013 of $17.0 million related to the pension settlement charge of $22.4 million, in accordance with the Oklahoma pension tracker. |
Report_of_Business_Segments_Ta
Report of Business Segments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||
The following tables summarize the results of the Company's business segments for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||
2013 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,262.20 | $ | 630.4 | $ | — | $ | (24.9 | ) | $ | 2,867.70 | |||||
Cost of sales | 965.9 | 489 | — | (26.0 | ) | 1,428.90 | ||||||||||
Other operation and maintenance | 438.8 | 60.9 | (10.5 | ) | — | 489.2 | ||||||||||
Depreciation and amortization | 248.4 | 36.8 | 12.1 | — | 297.3 | |||||||||||
Taxes other than income | 83.8 | 10.5 | 4.5 | — | 98.8 | |||||||||||
Operating income (loss) | $ | 525.3 | $ | 33.2 | $ | (6.1 | ) | $ | 1.1 | $ | 553.5 | |||||
Equity in earnings of unconsolidated affiliates | $ | — | $ | 101.9 | $ | — | $ | — | $ | 101.9 | ||||||
Investment in unconsolidated affiliates (at historical cost) | $ | — | $ | 1,298.80 | $ | — | $ | — | $ | 1,298.80 | ||||||
Total assets | $ | 7,694.90 | $ | 1,348.60 | $ | 216.2 | $ | (125.0 | ) | $ | 9,134.70 | |||||
Capital expenditures | $ | 797.6 | $ | 181.5 | $ | 11.5 | $ | — | $ | 990.6 | ||||||
2012 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,141.20 | $ | 1,608.60 | $ | — | $ | (78.6 | ) | $ | 3,671.20 | |||||
Cost of sales | 879.1 | 1,120.10 | — | (80.5 | ) | 1,918.70 | ||||||||||
Other operation and maintenance | 446.3 | 172.9 | (17.7 | ) | — | 601.5 | ||||||||||
Depreciation and amortization | 248.7 | 108.8 | 13.5 | — | 371 | |||||||||||
Impairment of assets | — | 0.4 | — | — | 0.4 | |||||||||||
Gain on insurance proceeds | — | (7.5 | ) | — | — | (7.5 | ) | |||||||||
Taxes other than income | 77.7 | 28.3 | 4.2 | — | 110.2 | |||||||||||
Operating income (loss) | $ | 489.4 | $ | 185.6 | $ | — | $ | 1.9 | $ | 676.9 | ||||||
Total assets | $ | 7,222.40 | $ | 2,681.30 | $ | 242.6 | $ | (224.1 | ) | $ | 9,922.20 | |||||
Capital expenditures | $ | 704.4 | $ | 506.5 | $ | 18.3 | $ | — | $ | 1,229.20 | ||||||
2011 | Electric Utility | Natural Gas Midstream Operations | Other Operations | Eliminations | Total | |||||||||||
(In millions) | ||||||||||||||||
Operating revenues | $ | 2,211.50 | $ | 1,787.10 | $ | — | $ | (82.7 | ) | $ | 3,915.90 | |||||
Cost of sales | 1,013.50 | 1,346.60 | — | (82.2 | ) | 2,277.90 | ||||||||||
Other operation and maintenance | 436 | 162.5 | (17.3 | ) | — | 581.2 | ||||||||||
Depreciation and amortization | 216.1 | 77.6 | 13.4 | — | 307.1 | |||||||||||
Impairment of assets | — | 6.3 | — | — | 6.3 | |||||||||||
Gain on insurance proceeds | — | (3.0 | ) | — | — | (3.0 | ) | |||||||||
Taxes other than income | 73.6 | 22 | 4.1 | — | 99.7 | |||||||||||
Operating income (loss) | $ | 472.3 | $ | 175.1 | $ | (0.2 | ) | $ | (0.5 | ) | $ | 646.7 | ||||
Total assets | $ | 6,620.90 | $ | 2,289.00 | $ | 155 | $ | (158.9 | ) | $ | 8,906.00 | |||||
Capital expenditures | $ | 844.5 | $ | 612.5 | $ | 13.8 | $ | — | $ | 1,470.80 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ' | |||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||||||||||||||||
Operating Lease Obligations | ||||||||||||||||||||||
The Company has operating lease obligations expiring at various dates, primarily for OG&E railcar leases, OG&E wind farm land leases and OGE Energy noncancellable operating lease. Future minimum payments for noncancellable operating leases are as follows: | ||||||||||||||||||||||
Year ended December 31 (In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | Total | |||||||||||||||
Operating lease obligations | ||||||||||||||||||||||
Railcars | $ | 3.8 | $ | 3.1 | $ | 27.3 | $ | — | $ | — | $ | — | $ | 34.2 | ||||||||
Wind farm land leases | 2.1 | 2.1 | 2.1 | 2.4 | 2.4 | 48.8 | 59.9 | |||||||||||||||
OGE Energy noncancellable operating lease | 0.8 | 0.8 | 0.8 | 0.8 | 0.7 | — | 3.9 | |||||||||||||||
Total operating lease obligations | $ | 6.7 | $ | 6 | $ | 30.2 | $ | 3.2 | $ | 3.1 | $ | 48.8 | $ | 98 | ||||||||
Payments for operating lease obligations were $8.8 million, $14.2 million and $10.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | ' | |||||||||||||||||||||
Other Purchase Obligations and Commitments | ||||||||||||||||||||||
The Company's other future purchase obligations and commitments estimated for the next five years are as follows: | ||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||
Other purchase obligations and commitments | ||||||||||||||||||||||
Cogeneration capacity and fixed operation and maintenance payments | $ | 85.1 | $ | 82.7 | $ | 81.9 | $ | 79.6 | $ | 77 | $ | 406.3 | ||||||||||
Expected cogeneration energy payments | 61.1 | 60.9 | 75.7 | 81.5 | 87.4 | 366.6 | ||||||||||||||||
Minimum fuel purchase commitments | 451.8 | 451.8 | 368.5 | 385.1 | — | 1,657.20 | ||||||||||||||||
Expected wind purchase commitments | 58 | 58.9 | 59.8 | 60.8 | 59.5 | 297 | ||||||||||||||||
Long-term service agreement commitments | 70.5 | 2.8 | 2.5 | 2.6 | 19.1 | 97.5 | ||||||||||||||||
Total other purchase obligations and commitments | $ | 726.5 | $ | 657.1 | $ | 588.4 | $ | 609.6 | $ | 243 | $ | 2,824.60 | ||||||||||
Schedule of Wind Power Purchases [Table Text Block] | ' | |||||||||||||||||||||
The following table summarizes OG&E's wind power purchases for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||||
Year ended December 31 (In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||
CPV Keenan | $ | 30.9 | $ | 25.1 | $ | 24.5 | ||||||||||||||||
Edison Mission Energy | 20.6 | 20.2 | 8.5 | |||||||||||||||||||
FPL Energy | 3.3 | 3.4 | 3.7 | |||||||||||||||||||
NextEra Energy | 7.2 | 0.8 | — | |||||||||||||||||||
Total wind power purchased | $ | 62 | $ | 49.5 | $ | 36.7 | ||||||||||||||||
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | |||||||||||||||||
Due to the seasonal fluctuations and other factors of the Company's businesses, the operating results for interim periods are not necessarily indicative of the results that may be expected for the year. In the Company's opinion, the following quarterly financial data includes all adjustments, consisting of normal recurring adjustments, necessary to fairly present such amounts. Summarized consolidated quarterly unaudited financial data is as follows: | |||||||||||||||||
Quarter ended (In millions, except per share data) | 31-Mar | 30-Jun | 30-Sep | 31-Dec | Total | ||||||||||||
Operating revenues | 2013 | $ | 901.4 | $ | 734.2 | $ | 723.2 | $ | 508.9 | $ | 2,867.70 | ||||||
2012 | $ | 840.7 | $ | 855 | $ | 1,113.40 | $ | 862.1 | $ | 3,671.20 | |||||||
Operating income | 2013 | $ | 75.4 | $ | 143.9 | $ | 260.9 | $ | 73.3 | $ | 553.5 | ||||||
2012 | $ | 98.3 | $ | 177.3 | $ | 304 | $ | 97.3 | $ | 676.9 | |||||||
Net income | 2013 | $ | 28 | $ | 93 | $ | 215.2 | $ | 57.6 | $ | 393.8 | ||||||
2012 | $ | 47.5 | $ | 101.6 | $ | 192.4 | $ | 43.5 | $ | 385 | |||||||
Net income attributable to OGE Energy | 2013 | $ | 23.1 | $ | 91.7 | $ | 215.2 | $ | 57.6 | $ | 387.6 | ||||||
2012 | $ | 37.1 | $ | 93.9 | $ | 185.5 | $ | 38.5 | $ | 355 | |||||||
Basic earnings per average common share attributable to OGE Energy common shareholders (A) | 2013 | $ | 0.12 | $ | 0.46 | $ | 1.08 | $ | 0.29 | $ | 1.96 | ||||||
2012 | $ | 0.19 | $ | 0.48 | $ | 0.94 | $ | 0.19 | $ | 1.8 | |||||||
Diluted earnings per average common share attributable to OGE Energy common shareholders (A) | 2013 | $ | 0.12 | $ | 0.46 | $ | 1.08 | $ | 0.29 | $ | 1.94 | ||||||
2012 | $ | 0.19 | $ | 0.47 | $ | 0.94 | $ | 0.19 | $ | 1.79 | |||||||
(A) | Due to the impact of dilution on the earnings per share calculation, quarterly earnings per share amounts may not add to the total. |
Schedule_II_Tables
Schedule II (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||
Schedule II Valuation and Qualifying Accounts [Table Text Block] | ' | ||||||||||||
SCHEDULE II - Valuation and Qualifying Accounts | |||||||||||||
Additions | |||||||||||||
Description | Balance at Beginning of Period | Charged to Costs and Expenses | Deductions (A) | Balance at End of Period | |||||||||
(In millions) | |||||||||||||
Balance at December 31, 2011 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 1.9 | $ | 5.8 | $ | 3.9 | $ | 3.8 | |||||
Balance at December 31, 2012 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 3.8 | $ | 3.3 | $ | 4.5 | $ | 2.6 | |||||
Balance at December 31, 2013 | |||||||||||||
Reserve for Uncollectible Accounts | $ | 2.6 | $ | 2.5 | $ | 3.2 | $ | 1.9 | |||||
(A) | Uncollectible accounts receivable written off, net of recoveries. |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Equity Ownership (Details) | 8 Months Ended | |
Dec. 31, 2013 | 1-May-13 | |
CenterPoint [Member] | ' | ' |
Percentage Share of Management Rights | ' | 50.00% |
OGE Energy [Member] | ' | ' |
Percentage Share of Management Rights | ' | 50.00% |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 28.50% | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Regulated Operations (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Fuel clause under recoveries | $26.20 | $0 | ||
Regulatory Assets, Current | 48.8 | 27 | ||
Regulatory Assets, Noncurrent | 379.1 | 510.6 | ||
Fuel clause over recoveries | 0.4 | 109.2 | ||
Regulatory Liability, Current | 20.2 | 141.1 | ||
Regulatory Liability, Noncurrent | 234.2 | 245.1 | ||
Smart Grid rider over recovery [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Liability, Current | 16.7 | [1] | 24.1 | [1] |
Other Regulatory Liabilities [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Liability, Current | 3.1 | [1] | 7.8 | [1] |
Accrued removal obligations [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Liability, Noncurrent | 227.7 | 218.2 | ||
Deferred Pension Credits [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Liability, Noncurrent | 6.5 | 17.7 | ||
Pension tracker [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Liability, Noncurrent | 0 | 9.2 | ||
Crossroads wind farm rider under recovery [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Current | 4.7 | [2] | 14.9 | [2] |
Oklahoma demand program rider under recovery [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Current | 10.6 | [2] | 9.2 | [2] |
Other Regulatory Assets [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Current | 7.3 | [2] | 2.9 | [2] |
Regulatory Assets, Noncurrent | 16.2 | 16.8 | ||
Benefit obligations regulatory asset [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | 227.4 | 370.6 | ||
Income taxes recoverable from customers, net [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | 56.5 | 54.7 | ||
Smart Grid [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | 44.2 | 42.8 | ||
Deferred storm expenses [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | 21.6 | 12.7 | ||
Unamortized loss on reacquired debt [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | 11.8 | 13 | ||
Pension tracker [Member] | ' | ' | ||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ||
Regulatory Assets, Noncurrent | $1.40 | $0 | ||
[1] | Included in Other Current Liabilities on the Consolidated Balance Sheets. | |||
[2] | Included in Other Current Assets on the Consolidated Balance Sheets. |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Accounting Records (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Components of Benefit Obligation Regulatory Asset | $227.40 | $370.60 |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -1 | ' |
Smart Grid Project [Member] | ' | ' |
Smart Grid Cost Cap | 366.4 | ' |
U.S. Department of Energy Funds | 130 | ' |
Operations and Maintenance Expenses [Member] | ' | ' |
Deferred Storm and Property Reserve Deficiency, Current | 2.7 | ' |
Regulatory Asset [Member] | ' | ' |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 10.7 | ' |
Pension Plans, Defined Benefit [Member] | Defined Benefit Plans Income Loss [Member] | ' | ' |
Components of Benefit Obligation Regulatory Asset | 178.4 | 278.6 |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 11.4 | ' |
Pension Plans, Defined Benefit [Member] | Prior Service Cost [Member] | ' | ' |
Components of Benefit Obligation Regulatory Asset | 2.5 | 4.5 |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 2 | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Defined Benefit Plans Income Loss [Member] | ' | ' |
Components of Benefit Obligation Regulatory Asset | 79.9 | 134.6 |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 11 | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Prior Service Cost [Member] | ' | ' |
Components of Benefit Obligation Regulatory Asset | -33.4 | -47.1 |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -13.7 | ' |
OKLAHOMA | Web Portal Access and Education [Member] | Smart Grid Project [Member] | ' | ' |
Smart Grid Costs to be Recovered | $6.90 | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Allowance for Uncollectible Accounts Receivable (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Allowance for Doubtful Accounts Receivable | $1.90 | $2.60 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies Fuel Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fuel inventories | $74.40 | $93.30 |
Public Utilities, Inventory, Fuel [Member] | ' | ' |
Public Utilities, Inventory | $74.40 | $76.80 |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | $9,651.60 | $11,891.90 | ' | ||
Accumulated Depreciation | 2,978.80 | 3,547.10 | ' | ||
Property, Plant and Equipment, Net | 6,672.80 | 8,344.80 | ' | ||
Proceeds from insurance | 0 | 7.6 | 7.4 | ||
Gain on insurance proceeds | 0 | -7.5 | -3 | ||
Capitalized Computer Software, Gross | 24 | 33.1 | ' | ||
Capitalized Computer Software, Amortization | 11.2 | 14.1 | 9.2 | ||
McClain Plant [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 0.1 | 0.1 | ' | ||
Jointly Owned Utility Plant, Proportionate Ownership Share | 77.00% | [1] | 77.00% | [2] | ' |
Property, Plant and Equipment, Gross | 180.8 | [1] | 182.1 | [2] | ' |
Accumulated Depreciation | 62.1 | [1] | 56.3 | [2] | ' |
Property, Plant and Equipment, Net | 118.7 | [1] | 125.8 | [2] | ' |
Redbud Plant [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress | 39.5 | 0.3 | ' | ||
Jointly Owned Utility Plant, Proportionate Ownership Share | 51.00% | [1],[3] | 51.00% | [2],[4] | ' |
Property, Plant and Equipment, Gross | 498.9 | [1],[3] | 458.5 | [2],[4] | ' |
Accumulated Depreciation | 89.7 | [1],[3] | 69.5 | [2],[4] | ' |
Property, Plant and Equipment, Net | 409.2 | [1],[3] | 389 | [2],[4] | ' |
Amount of Acquisition Adjustments | 148.3 | 148.3 | ' | ||
Public Utilities, Property, Plant and Equipment, Amount of Acquisition Adjustments, Related Accumulated Depreciation | 28.8 | 23.3 | ' | ||
OGE Energy [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 152.4 | 142.1 | ' | ||
Accumulated Depreciation | 114.2 | 103.2 | ' | ||
Property, Plant and Equipment, Net | 38.2 | 38.9 | ' | ||
Capitalized Computer Software, Gross | 7.2 | 11.6 | ' | ||
Capitalized Computer Software, Amortization | 6.4 | 6.8 | 6.4 | ||
OGE Energy [Member] | Total Property Plant and Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 152.4 | 142.1 | ' | ||
Accumulated Depreciation | 114.2 | 103.2 | ' | ||
Property, Plant and Equipment, Net | 38.2 | 38.9 | ' | ||
Og and E [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Capitalized Computer Software, Gross | 16.8 | 17.6 | ' | ||
Capitalized Computer Software, Amortization | 4 | 4.2 | 1.8 | ||
Og and E [Member] | Total Property Plant and Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 9,499.20 | 8,749.70 | ' | ||
Accumulated Depreciation | 2,864.60 | 2,705.60 | ' | ||
Property, Plant and Equipment, Net | 6,634.60 | 6,044.10 | ' | ||
Og and E [Member] | Electric Transmission and Distribution [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 3,403.80 | 3,222.70 | ' | ||
Accumulated Depreciation | 1,028.20 | 969.6 | ' | ||
Property, Plant and Equipment, Net | 2,375.60 | 2,253.10 | ' | ||
Og and E [Member] | Electric Generation Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 3,551 | [5] | 3,446.60 | [6] | ' |
Accumulated Depreciation | 1,306.10 | [5] | 1,242.40 | [6] | ' |
Property, Plant and Equipment, Net | 2,244.90 | [5] | 2,204.20 | [6] | ' |
Amount of Acquisition Adjustments | 148.3 | 148.3 | ' | ||
Public Utilities, Property, Plant and Equipment, Amount of Acquisition Adjustments, Related Accumulated Depreciation | 28.8 | 23.3 | ' | ||
Og and E [Member] | Transmission Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Amount of Acquisition Adjustments | 3.3 | 3.3 | ' | ||
Amount of Acquistion Adjustments Related Accumulated Amortization | 0.3 | 0.3 | ' | ||
Og and E [Member] | Electric Transmission [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 2,163.70 | [7] | 1,712.60 | [7] | ' |
Accumulated Depreciation | 385 | [7] | 359.8 | [7] | ' |
Property, Plant and Equipment, Net | 1,778.70 | [7] | 1,352.80 | [7] | ' |
Og and E [Member] | Finite-Lived Intangible Assets, Major Class Name [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 50.5 | 50.2 | ' | ||
Accumulated Depreciation | 27.1 | 25 | ' | ||
Property, Plant and Equipment, Net | 23.4 | 25.2 | ' | ||
Og and E [Member] | Property, Plant and Equipment, Other Types [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | 330.2 | 317.6 | ' | ||
Accumulated Depreciation | 118.2 | 108.8 | ' | ||
Property, Plant and Equipment, Net | 212 | 208.8 | ' | ||
Enogex [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Capitalized Computer Software, Gross | 0 | 3.9 | ' | ||
Capitalized Computer Software, Amortization | 0.8 | 3.1 | 1 | ||
Enogex [Member] | Total Property Plant and Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | ' | 3,000.10 | ' | ||
Accumulated Depreciation | ' | 738.3 | ' | ||
Property, Plant and Equipment, Net | ' | 2,261.80 | ' | ||
Enogex [Member] | Transportation and Storage [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | ' | 988.6 | ' | ||
Accumulated Depreciation | ' | 292.7 | ' | ||
Property, Plant and Equipment, Net | ' | 695.9 | ' | ||
Enogex [Member] | Gas Gathering and Processing Equipment [Member] | ' | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ||
Property, Plant and Equipment, Gross | ' | 2,011.50 | ' | ||
Accumulated Depreciation | ' | 445.6 | ' | ||
Property, Plant and Equipment, Net | ' | $1,565.90 | ' | ||
[1] | Construction work in progress was $0.1 million and $39.5 million for the McClain and Redbud Plants, respectively. | ||||
[2] | Construction work in progress was $0.1 million and $0.3 million for the McClain and Redbud Plants, respectively. | ||||
[3] | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $28.8 million. | ||||
[4] | This amount includes a plant acquisition adjustment of $148.3 million and accumulated amortization of $23.3 million. | ||||
[5] | This amount includes a plant acquisition adjustment ofB $148.3 million and accumulated amortization ofB $28.8 million. | ||||
[6] | This amount includes a plant acquisition adjustment ofB $148.3 million and accumulated amortization ofB $23.3 million. | ||||
[7] | This amount includes a plant acquisition adjustment ofB $3.3 million and accumulated amortization ofB $0.3 million. |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intangible Assets [Abstract] | ' | ' | ' |
Total Intangible Assets | $0 | $141.90 | ' |
Accumulated Amortization | ' | 14.5 | ' |
Intangible Assets, Net (Excluding Goodwill) | 0 | 127.4 | ' |
Amortization of Intangible Assets | $1.90 | $9.60 | $2.10 |
Recovered_Sheet1
Summary of Significant Accounting Policies Depreciation and Amortization (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Provision for Depreciation Rate | 2.80% | 3.00% |
Projected provision for depreciation in next fiscal year | 2.80% | ' |
Percent Of Intangible Plant Balance Amortizable | 93.50% | ' |
Percent of Intangible Plant Balance Amortizable Thereafter | 6.50% | ' |
Transmission Equipment [Member] | OG&E [Member] | ' | ' |
Amount of Acquisition Adjustments | 3.3 | 3.3 |
Recovered_Sheet2
Summary of Significant Accounting Policies Asset Retirement Obligation (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ||
Balance at January 1 | $54 | $24.80 | ||
Liabilities settled | -0.4 | [1] | 0.4 | [1] |
Accretion expense | 2.3 | 1.9 | ||
Revisions in estimated cash flows | -0.7 | [2] | 26.9 | [2] |
Balance at December 31 | 55.2 | 54 | ||
OGE Enogex Holdings [Member] | ' | ' | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ||
Balance at December 31 | $0 | ' | ||
[1] | As a result of the formation of Enable on May 1, 2013, the Company has no obligations at December 31, 2013 under OGE Holdings' asset retirement obligations previously disclosed in the Company's 2012 10-K. | |||
[2] | Due to changes to OG&E's asset retirement obligations related to its wind farms as a result of changes in the assumption related to the timing of removal used in the valuation of the asset retirement obligations. |
Recovered_Sheet3
Summary of Significant Accounting Policies Impairment of Long-Lived Assets (Including Goodwill) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impairment of assets | $0 | $0.40 | $6.30 |
Goodwill | 0 | 39.4 | ' |
Other Material Impairments | 0 | 0 | 0 |
Atoka [Member] | ' | ' | ' |
Impairment of assets | ' | ' | 5 |
Impairment of Assets Noncontrolling Interest Portion | ' | ' | $2.50 |
Recovered_Sheet4
Summary of Significant Accounting Policies Allowance for Funds Used During Construction (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Public Utilities, Allowance for Funds Used During Construction, Rate | 8.33% | 8.93% | 8.71% |
Recovered_Sheet5
Summary of Significant Accounting Policies Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive (income) loss | ($28.20) | ($49.10) | ' | |
Other comprehensive income before reclassifications | 19.3 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | -3.7 | -3 | -2.5 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 7.7 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | -6.1 | ' | ' | |
Deconsolidation of Enogex Holdings | 6.1 | 0 | 0 | |
Net current period other comprehensive income (loss) | 20.9 | ' | ' | |
Pension settlement charges | 3 | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 0.4 | -1.6 | 12.6 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | -0.6 | 3.6 | -27.6 | |
Amounts Reclassified from Accumulated OCI, Net of Tax and Noncontrolling Interest | -7.7 | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -1 | ' | ' | |
Pension Plan [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | -6.7 | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | -6.1 | [2] | ' | ' |
Other Comprehensive Income Pension Settlement Adjustment | -4.9 | [2] | ' | ' |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -11 | ' | ' | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax | -4.3 | ' | ' | |
Amortization of Defined Benefit Pension Items, Amount Reclassified from Accumulated OCI, Noncontrolling Interest | -0.1 | ' | ' | |
Amounts Reclassified from Accumulated OCI, Net of Tax and Noncontrolling Interest | -6.6 | ' | ' | |
Postretirement Benefit Plan [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | -0.2 | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | -3.3 | [2] | ' | ' |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | -0.4 | ' | ' | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax | -0.2 | ' | ' | |
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | 2.9 | [2] | ' | ' |
Deferred Commodity Contracts Hedging Gains Losses [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 0 | ' | ' | |
Deferred Interest Rate Swap Hedging Losses [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -0.2 | ' | ' | |
Defined Benefit Plans Income Loss [Member] | Pension Plans, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | -27.4 | -49.3 | ' | |
Other comprehensive income before reclassifications | 12.4 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 6.7 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | 2.8 | ' | ' | |
Net current period other comprehensive income (loss) | 21.9 | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -1.7 | ' | ' | |
Defined Benefit Plans Income Loss [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | -5.8 | -15.7 | ' | |
Other comprehensive income before reclassifications | 6.9 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | 1 | ' | ' | |
Net current period other comprehensive income (loss) | 9.9 | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -0.8 | ' | ' | |
Defined Benefit Plan Prior Service Cost [Member] | Pension Plans, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | 0.1 | 0.1 | ' | |
Other comprehensive income before reclassifications | 0 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | 0 | ' | ' | |
Net current period other comprehensive income (loss) | 0 | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | -0.1 | ' | ' | |
Defined Benefit Plan Prior Service Cost [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | 5.1 | 7.2 | ' | |
Other comprehensive income before reclassifications | 0 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | -1.8 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | -0.3 | ' | ' | |
Net current period other comprehensive income (loss) | -2.1 | ' | ' | |
Components of Net Periodic Benefit Costs to be Recognized in Next Fiscal Year | 1.8 | ' | ' | |
Commodity Contract [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | 0 | 0.1 | ' | |
Other comprehensive income before reclassifications | 0 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0.6 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | -0.7 | ' | ' | |
Net current period other comprehensive income (loss) | -0.1 | ' | ' | |
Interest Rate Swap [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive income (loss) | -0.2 | -0.5 | ' | |
Other comprehensive income before reclassifications | 0 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0.3 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | 0 | ' | ' | |
Net current period other comprehensive income (loss) | 0.3 | ' | ' | |
Noncontrolling Interest [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Accumulated other comprehensive (income) loss | 0 | -9 | ' | |
Other comprehensive income before reclassifications | 0 | ' | ' | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0.1 | [1] | ' | ' |
Deconsolidation of Enogex Holdings | 8.9 | ' | ' | |
Net current period other comprehensive income (loss) | 9 | ' | ' | |
Interest Rate Swap [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | -0.4 | ' | ' | |
Commodity Contract [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | -1 | ' | ' | |
Derivative [Member] | ' | ' | ' | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | -1.4 | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | -0.5 | ' | ' | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | ($0.90) | ' | ' | |
[1] | Includes $3.0 million of pension settlement charges. | |||
[2] | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (see Note 13 for additional information). |
Recovered_Sheet6
Summary of Significant Accounting Policies Enviromental Costs (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accrued Environmental Loss Contingencies, Noncurrent | $6.20 | $5.80 |
Recovered_Sheet7
Summary of Significant Accounting Policies Forward Stock Split (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' |
Common Stock, Shares Authorized | 450 | 225 |
Investment_in_Unconsolidated_A2
Investment in Unconsolidated Affiliate and Related Party Transactions (Details) (USD $) | 8 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | 1-May-13 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Line of Credit Facility, Maximum Borrowing Capacity | $1,150 | ' | |
Value of Midstream Operations Assets or Equity Acquired | ' | 50 | |
Value of Aggregate Midstream Operations Assets or Equity Acquired by Parties Not Offered in Midstream Partnership | ' | 100 | |
Enable Midstream Partners [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Distributions received | 51.7 | ' | |
Enogex LLC [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Increase in fair value of net assets | 2,200 | ' | |
Percentage of Enogex LLC Contributed | ' | 100.00% | |
Line of Credit Facility, Maximum Borrowing Capacity | 400 | ' | |
Og and E [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Line of Credit Facility, Maximum Borrowing Capacity | 400 | [1] | ' |
Southeast Supply Header, LLC [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Percentage of Subsidiary Contributed | ' | 24.95% | |
ArcLight group [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Contributions to Pay Down Short-Term Debt | ' | 107 | |
OGE Holdings [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Contributions to Pay Down Short-Term Debt | ' | 9.1 | |
OGE Energy [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Percentage Share of Management Rights | ' | 50.00% | |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 28.50% | ' | |
Percent of Incentive Distribution Rights | ' | 60.00% | |
Midstream Partnership [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Line of Credit Facility, Maximum Borrowing Capacity | ' | 1,400 | |
CenterPoint [Member] | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | |
Percentage Share of Management Rights | ' | 50.00% | |
Percent of Incentive Distribution Rights | ' | 40.00% | |
[1] | This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. |
Investment_in_Unconsolidated_A3
Investment in Unconsolidated Affiliate and Related Party Transactions Related Party Transactions (Details) (Og and E [Member], Enogex [Member], USD $) | 8 Months Ended | 12 Months Ended | 8 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Operating Costs Charged [Member] | Natural Gas Transportation [Member] | Natural Gas Storage [Member] | Natural Gas Purchases [Member] | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | ' | $17.80 | ' | ' | ' |
Revenue from Related Parties | 7.7 | ' | ' | ' | ' |
Related Party Transaction, Purchases from Related Party | ' | ' | $23.20 | $8.60 | $14.80 |
Investment_in_Unconsolidated_A4
Investment in Unconsolidated Affiliate and Related Party Transactions Summarized Balance Sheet Information of Equity Method Investment (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Summarized Financial Information of Equity Method Investment [Line Items] | ' |
Current assets | $549 |
Non-current assets | 10,683 |
Current liabilities | 720 |
Non-current liabilities | $2,331 |
Investment_in_Unconsolidated_A5
Investment in Unconsolidated Affiliate and Related Party Transactions Summarized Income Statement of Equity Method Investment (Details) (USD $) | 8 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Operating revenues | $2,122.60 |
Cost of sales | 1,240.50 |
Operating income | 321.9 |
Net income | $288.60 |
Investment_in_Unconsolidated_A6
Investment in Unconsolidated Affiliate and Related Party Transactions Reconciliation of Equity in Earnings of Unconsolidated Affiliates (Details) (USD $) | 8 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity Method Investments and Joint Ventures [Abstract] | ' | ' | ' | ' |
Proportionate Share of Unconsolidated Affiliate Net Income | $82.10 | ' | ' | ' |
Equity in Earnings Amortization of Basis Difference | 9.4 | ' | ' | ' |
Equity in Earnings Elimination of Fair Value Adjustments | 10.4 | ' | ' | ' |
Equity in earnings of unconsolidated affiliates (Note 1) | $101.90 | $101.90 | $0 | $0 |
Impairment_of_Assets_Details
Impairment of Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impairment of assets | $0 | $0.40 | $6.30 |
Atoka [Member] | ' | ' | ' |
Impairment of assets | ' | ' | 5 |
Impairment of Assets Noncontrolling Interest Portion | ' | ' | $2.50 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements, Fair Value Hierarchy (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Fair Value, Inputs, Level 3 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | $0 | |
Fair Value, Measurements, Recurring [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Assets (Liabilities), at Fair Value, Net | 0 | ' | |
Gas Imbalance Asset Fair Value Disclosure | ' | 3.1 | [1],[2] |
Gas Imbalance Liability Fair Value Disclosure | ' | 3.8 | [1],[3] |
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Gas Imbalance Asset Fair Value Disclosure | ' | 3.1 | [1],[2] |
Gas Imbalance Liability Fair Value Disclosure | ' | 3.8 | [1],[3] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Gas Imbalance Asset Fair Value Disclosure | ' | 0 | [1],[2] |
Gas Imbalance Liability Fair Value Disclosure | ' | 0 | [1],[3] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Gas Imbalance Asset Fair Value Disclosure | ' | 3.1 | [1],[2] |
Gas Imbalance Liability Fair Value Disclosure | ' | 3.8 | [1],[3] |
Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Gas Imbalance Asset Fair Value Disclosure | ' | 0 | [1],[2] |
Gas Imbalance Liability Fair Value Disclosure | ' | 0 | [1],[3] |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | 0.5 | |
Commodity Contracts Liabilities | ' | 0.3 | |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | 5.5 | |
Commodity Contracts Liabilities | ' | 5.5 | |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | 5 | |
Commodity Contracts Liabilities | ' | 5 | |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | 0.5 | |
Commodity Contracts Liabilities | ' | 0.5 | |
Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member] | Netting and Collateral [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Derivative Asset | ' | -5 | |
Commodity Contracts Liabilities | ' | -5.2 | |
Portion Not Subject to Revaluation at Fair Market Value [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Fuel Reserves for Under Retained Fuel Due From Shippers | ' | 5.9 | |
Fuel Reserves For Over Retained Fuel Due To Shippers | ' | $1.20 | |
[1] | The Company uses the market approach to fair value its gas imbalance assets and liabilities, using an average of the Inside FERC Gas Market Report for Panhandle Eastern Pipe Line Co. (Texas, Oklahoma Mainline), ONEOK (Oklahoma) and ANR Pipeline (Oklahoma) indices. | ||
[2] | Gas imbalance assets exclude fuel reserves for under retained fuel due from shippers of $5.9 million at DecemberB 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. | ||
[3] | Gas imbalance liabilities exclude fuel reserves for over retained fuel due to shippers of $1.2 million at DecemberB 31, 2012, which fuel reserves are based on the value of natural gas at the time the imbalance was created and which are not subject to revaluation at fair market value. |
Fair_Value_Measurements_Unobse
Fair Value Measurements Unobservable Input Reconciliation (Details) (Fair Value, Inputs, Level 3 [Member], USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Derivative Asset | $0 |
Fair_Value_Measurements_Carryi
Fair Value Measurements Carrying and Fair Value Amounts (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | $2,400.10 | $2,848.60 | |
OG&E Senior Notes [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | 2,154.50 | 1,904.20 | |
Long-Term Debt, Fair Value | 2,405 | 2,401.60 | |
OG&E Industrial Authority Bonds [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | 135.4 | 135.4 | |
Long-Term Debt, Fair Value | 135.4 | 135.4 | |
OG&E Tinker Debt [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | 10.3 | 10.7 | |
Long-Term Debt, Fair Value | 9.1 | 10 | |
OGE Energy Senior Notes [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | 99.9 | 99.9 | |
Long-Term Debt, Fair Value | 103.1 | 106.3 | |
Enogex LLC Senior Notes [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | ' | 448.4 | [1] |
Long-Term Debt, Fair Value | ' | 493.4 | [1] |
Enogex LLC Term Loan [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Total long-term debt | ' | 250 | [1] |
Long-Term Debt, Fair Value | ' | 250 | [1] |
Long-term Debt [Member] | OG&E [Member] | Due August 31, 2062 [Member] | ' | ' | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | |
Long term debt, gross | $10.30 | $10.70 | |
[1] | As a result of the formation of Enable on May 1, 2013 and the Company's deconsolidation of Enogex Holdings, the Company's consolidated financial statements do not include any obligations for the Enogex LLC Senior Notes and Enogex LLC Term Loan as of May 1, 2013. |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities, Quantitative Disclosures Related to Derivative Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Derivative [Line Items] | ' | ' | |
Derivative Asset, Fair Value, Gross Asset | 0 | ' | |
Derivative Instruments With Credit Risk Related Contingent Features | 0 | ' | |
Enogex [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Percent of Contract with Durations of One Year or Less | ' | 95.10% | |
Percent of Contracts With Durations of More Than One Year and Less Than Two Years | ' | 2.90% | |
Percent of Contracts Having a Duration of More Than Two Years | ' | 2.00% | |
Enogex [Member] | Designated as Hedging Instrument [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative Asset, Fair Value, Gross Asset | ' | 0 | |
Derivative Purchases [Member] | Fixed Swaps/Futures [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 16,200,000 | [1],[2] |
Derivative Purchases [Member] | Basis Swaps [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 7,300,000 | [1],[2] |
Derivative Purchases [Member] | Physical [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 7,000,000 | [1],[2],[3],[4] |
Derivative Sales [Member] | Enogex [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | 0 | 3,700,000 | [1] |
Derivative Sales [Member] | Fixed Swaps/Futures [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 17,900,000 | [1],[2] |
Derivative Sales [Member] | Basis Swaps [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 6,700,000 | [1],[2] |
Derivative Sales [Member] | Physical [Member] | Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | ' | ' | |
Derivative [Line Items] | ' | ' | |
Derivative, Nonmonetary Notional Amount | ' | 30,100,000 | [1],[2],[3],[4] |
[1] | Natural gas in MMBtu's. | ||
[2] | 95.1 percent of the natural gas contracts have durations of one year or less, 2.9 percent have durations of more than one year and less than two years and 2.0 percent have durations of more than two years. | ||
[3] | Of the natural gas physical purchases and sales volumes not designated as hedges, the majority are priced based on a monthly or daily index and the fair value is subject to little or no market price risk. | ||
[4] | Natural gas physical sales volumes exceed natural gas physical purchase volumes due to the marketing of natural gas volumes purchased via Enogex's processing contracts, which are not derivative instruments and are excluded from the table above. |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities, Balance Sheet Presentation Related to Derivative Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | $0 | ' | |
Fair Value Hedging [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Fair Value Hedges, Net | 0 | 0 | |
Enogex [Member] | Designated as Hedging Instrument [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 0 | |
Liabilities | ' | 0.5 | |
Enogex [Member] | Designated as Hedging Instrument [Member] | Natural Gas [Member] | Fixed Swaps/Futures [Member] | Other Current Assets [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 0 | |
Liabilities | ' | 0.5 | |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Options [Member] | Other Current Assets [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 5.5 | [1] |
Liabilities | ' | 5.5 | [1] |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Fixed Swaps/Futures [Member] | Current PRM [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 0.1 | |
Liabilities | ' | 0 | |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Fixed Swaps/Futures [Member] | Other Current Assets [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 5 | |
Liabilities | ' | 4.7 | |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Physical [Member] | Current PRM [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 0.4 | |
Liabilities | ' | 0.3 | |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | Natural Gas [Member] | Physical [Member] | Noncurrent PRM [Member] | ' | ' | |
Derivatives, Fair Value [Line Items] | ' | ' | |
Assets | ' | 5.5 | |
Liabilities | ' | $5 | |
[1] | See Note 5 for a reconciliation of the Company's total derivatives fair value to the Company's Consolidated Balance Sheet at DecemberB 31, 2012. |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities, Income Statement Presentation Related to Derivative Instruments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Other Comprehensive Income | ($0.20) | $0.50 | ' |
Amount Reclassifed from Accumulated Other Comprehensive Income (Loss) into Income | 5 | 4.8 | ' |
Amount Recognized in Income | 0 | 0 | ' |
Enogex [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Other Comprehensive Income | ' | ' | -5.5 |
Amount Reclassifed from Accumulated Other Comprehensive Income (Loss) into Income | ' | ' | -40.6 |
Amount Recognized in Income | ' | ' | 0 |
Enogex [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Income | -5.1 | -10.6 | -9.6 |
Enogex [Member] | NGLs [Member] | Options [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Other Comprehensive Income | ' | ' | -8.4 |
Amount Reclassifed from Accumulated Other Comprehensive Income (Loss) into Income | ' | ' | -9.8 |
Amount Recognized in Income | ' | ' | 0 |
Enogex [Member] | Natural Gas [Member] | Fixed Swaps/Futures [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Other Comprehensive Income | -0.2 | 0.5 | 2.9 |
Amount Reclassifed from Accumulated Other Comprehensive Income (Loss) into Income | 5.2 | 5.2 | -30.4 |
Amount Recognized in Income | 0 | 0 | 0 |
Enogex [Member] | Natural Gas [Member] | Fixed Swaps/Futures [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Income | 1 | 1.1 | 0.4 |
Enogex [Member] | Sales [Member] | Natural Gas [Member] | Physical [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Income | -6.1 | -11.7 | -10 |
OGE Energy Corp. [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount Recognized in Other Comprehensive Income | 0 | 0 | 0 |
Amount Reclassifed from Accumulated Other Comprehensive Income (Loss) into Income | -0.2 | -0.4 | -0.4 |
Amount Recognized in Income | 0 | 0 | 0 |
Maximum [Member] | Enogex [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Additional Collateral, Aggregate Fair Value | ' | $0.20 | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 12 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |||||
2013 Performance Units Grants [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | 2012 Performance Unit Grants [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Performance Units Related to Earnings Per Share [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Total Shareholder Return [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Restricted Stock [Member] | |||||||||
2013 Performance Units Grants [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | 2012 Performance Unit Grants [Member] | 2013 Performance Units Grants [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | 2012 Performance Unit Grants [Member] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | ' | ' | ' | ' | 354,026 | 327,838 | ' | 1,062,060 | 1,069,128 | ' | ' | ' | ' | 23,628 | 49,106 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of Shares Authorized | 7,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.70 | $12.20 | $13.70 | $0.40 | $0.60 | $1 | $11.10 | $12.80 | $14.70 | ' | ' | $2.30 | $4.20 | $5.50 | ' | ' | $8.40 | $8 | $8.20 | ' | ' | ' | ' | ' | |||||
Amount paid by unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.1 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Compensation Expense, Net of Unconsolidated Affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 12.8 | 14.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Tax Benefit from Compensation Expense | 3.1 | 4.9 | 5.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Shares Issued in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 548,344 | 849,110 | 623,246 | ' | |||||
Shares Paid for Tax Withholding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,318 | |||||
Equity Instruments Other than Options, Grants in Period | ' | ' | ' | 91,390 | 74,570 | [1] | 81,594 | 142,476 | 316,162 | [1] | 338,678 | 427,442 | ' | ' | ' | 5,940 | 10,824 | 35,804 | ' | ' | ' | 82,930 | 45,794 | ' | ' | ' | 41,376 | 45,596 | ' | ' | ' | 41,554 | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $26.73 | $23.82 | $20.81 | $25.89 | $25.91 | $23.05 | ' | ' | ' | $29.71 | $26.72 | $24.41 | ' | ' | ' | ' | $26.73 | ' | ' | ' | $34.94 | $25.89 | ' | ' | ' | $47.71 | ' | ' | ' | ' | |||||
Expected Dividend Rate | ' | ' | ' | ' | ' | ' | ' | 2.80% | 3.00% | 3.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Expected Volatility Rate | ' | ' | ' | ' | ' | ' | ' | 20.00% | 22.00% | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | ' | 0.37% | 0.38% | 1.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Expected Term | ' | ' | ' | ' | ' | ' | ' | '2 years 10 months 2 days | '2 years 10 months 13 days | '2 years 10 months 13 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other Than Options, Modification | ' | ' | ' | ' | 87,170 | [2] | ' | ' | 87,150 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Converted in Period | ' | ' | ' | ' | -125,760 | [3] | ' | ' | -377,266 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Vested in Period | ' | ' | ' | ' | -118,350 | ' | ' | -355,078 | ' | ' | ' | ' | ' | -30,242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Forfeited in Period | ' | ' | ' | ' | -9,792 | ' | ' | -33,114 | ' | ' | ' | ' | ' | -1,176 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Awards Other than Options, Fully Vested | ' | ' | ' | ' | 118,350 | ' | ' | 355,078 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Converted, Aggregrate Intrinsic Value | ' | ' | ' | ' | 7.4 | [2] | ' | ' | 22.1 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Vested in Period, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Outstanding, Aggregrate Intrinsic Value | ' | ' | ' | ' | 13.9 | ' | ' | 50.9 | ' | ' | ' | ' | ' | 0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Fully Vested, Aggregrate Intrinsic Value | ' | ' | ' | ' | 8 | ' | ' | 19.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Minimum payout range | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Maximum payout range | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | ' | ' | ' | ' | 202,078 | ' | ' | 691,862 | ' | ' | ' | ' | ' | 49,106 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other Than Options, Modification | ' | ' | ' | ' | 87,170 | [2] | ' | ' | 87,150 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Vested in Period | ' | ' | ' | ' | -118,350 | ' | ' | -355,078 | ' | ' | ' | ' | ' | -30,242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Nonvested, Number, Ending Balance | ' | ' | ' | ' | 235,676 | 202,078 | ' | 706,982 | 691,862 | ' | ' | ' | ' | 23,628 | 49,106 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $25.28 | $22 | ' | $25.90 | $24.40 | ' | ' | ' | ' | $26.30 | $23.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $26.73 | $23.82 | $20.81 | $25.89 | $25.91 | $23.05 | ' | ' | ' | $29.71 | $26.72 | $24.41 | ' | ' | ' | ' | $26.73 | ' | ' | ' | $34.94 | $25.89 | ' | ' | ' | $47.71 | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Modifications in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $30.62 | ' | ' | $36.29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $20.81 | ' | ' | $23.05 | ' | ' | ' | ' | ' | $22.57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $23.34 | ' | ' | $24.96 | ' | ' | ' | ' | ' | $26.87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Awards Other than Options, Vested and Expected to Vest, Outstanding | ' | ' | ' | ' | 209,938 | [4] | ' | ' | 633,808 | [4] | ' | ' | ' | ' | ' | 23,628 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Equity Instruments Other than Options, Expected to Vest, Intrinsic Value | ' | ' | ' | ' | 5.6 | ' | ' | 28.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Fair Value of Vested Performance Units and Restricted Stock | ' | ' | ' | ' | 4.9 | 4.1 | 3.9 | 8.2 | 7.4 | 7.4 | ' | ' | ' | 0.7 | 0.7 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Total Compensation Cost Not yet Recognized | 10.4 | ' | ' | ' | 1.8 | ' | ' | 8.4 | ' | ' | 10.2 | ' | ' | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | '1 year 5 months 27 days | ' | ' | '1 year 7 months 17 days | ' | ' | ' | ' | ' | '1 year 7 months 17 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Outstanding, Beginning Balance | 39,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercises in Period | -39,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Outstanding, Ending Balance | 0 | 39,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercisable | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Outstanding, Weighted Average Exercise Price | $0 | $11.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercises in Period, Weighted Average Exercise Price | ($11.40) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercisable, Weighted Average Exercise Price | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercises in Period, Total Intrinsic Value | 1.4 | [5] | 2 | [5] | 2.2 | [5] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Options, Outstanding, Intrinsic Value | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Outstanding, Weighted Average Remaining Contractual Term | '0 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercisable, Intrinsic Value | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercisable, Weighted Average Remaining Contractual Term | '0 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Options, Exercises in Period, Total Intrinsic Value | 1.4 | [5] | 2 | [5] | 2.2 | [5] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cash Received from Exercise of Stock Options | $0.40 | $0.80 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from 0 percent to 200 percent of the target. | ||||||||||||||||||||||||||||||||||||||
[2] | These amounts represent the performance unit grants previously based on earnings before interest, taxes, depreciation and amortization that were converted to performance units based on total shareholder return or earnings per share as a result of the formation of Enable. | ||||||||||||||||||||||||||||||||||||||
[3] | These amounts represent performance units that vested at DecemberB 31, 2012 which were settled in February 2013. | ||||||||||||||||||||||||||||||||||||||
[4] | The intrinsic value of the performance units based on total shareholder return and earnings per share is $28.3 million and $5.6 million, respectively. | ||||||||||||||||||||||||||||||||||||||
[5] | The difference between the market value on the date of exercise and the option exercise price. |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' | ' | |||
Installment payments for Tinker electric distribution system | $0 | $10.60 | $0 | |||
Power plant long-term service agreement | 9.7 | 0 | 1.7 | |||
Investment in Enable | 1,248.60 | 0 | 0 | |||
SUPPLEMENTAL CASH FLOW INFORMATION | ' | ' | ' | |||
Interest (net of interest capitalized) | 151.1 | [1] | 161.3 | [1] | 138.9 | [1] |
Income taxes (net of income tax refunds) | -1.1 | -9.1 | 4.7 | |||
Interest costs capitalized | $5.40 | $8 | $19.10 | |||
[1] | Net of interest capitalized of $5.4 million, $8.0 million and $19.1 million in 2013, 2012 and 2011, respectively. |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Unrecognized Tax Benefits | $7.80 | $0 | $0 | $0 | |||
Current Federal Tax Expense (Benefit) | 0 | -9.1 | -5.4 | ' | |||
Current State and Local Tax Expense (Benefit) | 4.3 | 0.5 | 0.1 | ' | |||
Current Income Tax Expense (Benefit) | 4.3 | -8.6 | -5.3 | ' | |||
Deferred Federal Income Tax Expense (Benefit) | 154.4 | 147.3 | 165.5 | ' | |||
Deferred State and Local Income Tax Expense (Benefit) | -26.4 | -1.5 | 3.8 | ' | |||
Deferred Income Tax Expense (Benefit) | 128 | 145.8 | 169.3 | ' | |||
Investment Tax Credit | -2 | -2.1 | -3.3 | ' | |||
Income Tax Expense (Benefit) | 130.3 | 135.1 | 160.7 | ' | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% | ' | |||
Effective Income Tax Rate Reconciliation Amortization of Net Unfunded Deferred Taxes | 0.60% | 0.80% | 0.70% | ' | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 0.40% | -0.10% | 0.60% | ' | |||
Effective Income Tax Rate Reconciliation, Tax Credits, Investment | -0.40% | -0.40% | -0.70% | ' | |||
Effective Income Tax Rate Reconciliation, Deductions, Employee Stock Ownership Plan Dividends | -0.50% | -0.50% | -0.50% | ' | |||
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Expense) | -0.30% | -1.60% | -1.30% | ' | |||
Effective Income Tax Rate Reconciliation, Tax Credits, Other | -7.20% | [1] | -7.20% | [1] | -3.40% | [1] | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1.50% | 0.00% | 0.00% | ' | |||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | -4.10% | 0.00% | 0.00% | ' | |||
Effective Income Tax Rate Reconciliation, Other Adjustments | -0.10% | 0.00% | 0.30% | ' | |||
Effective Income Tax Rate, Continuing Operations | 24.90% | 26.00% | 30.70% | ' | |||
Deferred Tax Assets, Operating Loss Carryforwards | 180.1 | 152.4 | ' | ' | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 22.3 | 27.1 | ' | ' | |||
Current Deferred Tax Assets, Federal Tax Credits | 8 | 6 | ' | ' | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other | 4.7 | 3.8 | ' | ' | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | 0.7 | 1 | ' | ' | |||
Deferred Tax Assets, Gross, Current | 215.8 | 190.3 | ' | ' | |||
Derivative Liabilities, Current | 0 | -2.6 | ' | ' | |||
Deferred Tax Liabilities, Net, Current | 0 | -2.6 | ' | ' | |||
Deferred Tax Assets, Net, Current | 215.8 | 187.7 | ' | ' | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 1,753.30 | 1,660.30 | ' | ' | |||
Non-Current Deferred Tax Liabilities, Investment in Enogex Holdings | 0 | 638 | ' | ' | |||
Non-Current Deferred Tax Liabilities, Investment in Enable Midstream Partners | 630.5 | 0 | ' | ' | |||
Deferred Tax Liabilities, Prepaid Expenses | 55.1 | 52.4 | ' | ' | |||
Deferred Tax Liabilities, Income Taxes Refundable to Customers, Net | 21.9 | 21.2 | ' | ' | |||
Deferred Tax Liabilities, Regulatory Assets | 26.1 | 18.8 | ' | ' | |||
Deferred Tax Liabilities, Unamortized Bond Redemption Costs | 3.6 | 4 | ' | ' | |||
Deferred Tax Liabilities, Derivatives | 1.6 | 1.5 | ' | ' | |||
Deferred Tax Liabilities, Gross, Noncurrent | 2,492.10 | 2,396.20 | ' | ' | |||
Deferred Tax Assets, Tax Credit Carryforwards | -105.2 | -69.6 | ' | ' | |||
Non-Current Deferred Tax Assets, State Tax Credits | -92.6 | -83.7 | ' | ' | |||
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | -62.8 | -57.6 | ' | ' | |||
Non-Current Deferred Tax Assets, Regulatory Liabilities | -61.3 | -71.4 | ' | ' | |||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Asset Retirement Obligations | -20.8 | 0 | ' | ' | |||
Non-Current Deferred Tax Asset, Net Operating Losses | -18.8 | -159.1 | ' | ' | |||
Deferred Tax Assets, Other | -4.6 | -4.5 | ' | ' | |||
Non-Current Deferred Tax Assets, Deferred Federal Investment Tax Credits | -0.7 | -1.5 | ' | ' | |||
Deferred Tax Assets, Gross, Noncurrent | -366.8 | -447.4 | ' | ' | |||
Deferred Tax Liabilities, Net, Noncurrent | 2,125.30 | 1,948.80 | ' | ' | |||
Unrecognized Tax Benefits | 7.8 | ' | ' | ' | |||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 2.7 | 0 | 0 | ' | |||
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 5.1 | 0 | 0 | ' | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | ' | ' | ' | |||
Reduction in income tax expense related to the Midstream Partnership | 8.4 | ' | ' | ' | |||
Increase in income tax expense related to deconsolidation | 3.9 | ' | ' | ' | |||
State operating loss [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 893.6 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 32.8 | ' | ' | ' | |||
Tax Credit Carryforward, Expiration Date | 31-Dec-30 | ' | ' | ' | |||
Federal operating loss [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 474.6 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 166.1 | ' | ' | ' | |||
Tax Credit Carryforward, Expiration Date | 31-Dec-30 | ' | ' | ' | |||
Federal tax credits [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 113.2 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 113.2 | ' | ' | ' | |||
Tax Credit Carryforward, Expiration Date | 31-Dec-29 | ' | ' | ' | |||
Oklahoma investment tax credits [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 106.1 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 69 | ' | ' | ' | |||
Oklahoma capital investment board credits [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 7.3 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 7.3 | ' | ' | ' | |||
Oklahoma zero emission tax credits [Member] | ' | ' | ' | ' | |||
Tax Credit Carryforward, Amount | 24.3 | ' | ' | ' | |||
Tax Credit Carryforward, Deferred Tax Asset | 16.3 | ' | ' | ' | |||
Tax Credit Carryforward, Expiration Date | 31-Dec-20 | ' | ' | ' | |||
Additional FIN 48 Reserve [Member] | ' | ' | ' | ' | |||
Income Tax Reconciliation, Tax Contingencies, State and Local | 4.1 | ' | ' | ' | |||
Additional FIN 48 reserve, net of tax [Member] | ' | ' | ' | ' | |||
Income Tax Reconciliation, Tax Contingencies, State and Local | 2.7 | ' | ' | ' | |||
FIN 48 reserve, gross [Member] | ' | ' | ' | ' | |||
Income Tax Reconciliation, Tax Contingencies, State and Local | 7.8 | ' | ' | ' | |||
FIN 48 reserve, net of tax [Member] | ' | ' | ' | ' | |||
Income Tax Reconciliation, Tax Contingencies, State and Local | 5.1 | ' | ' | ' | |||
Federal operating loss [Member] | ' | ' | ' | ' | |||
Deferred Tax Assets, Operating Loss Carryforwards | 180.1 | ' | ' | ' | |||
Enable Midstream Partners [Member] | ' | ' | ' | ' | |||
Deferred Income Tax Expense (Benefit) | $16.40 | ' | ' | ' | |||
[1] | Represents credits associated with the production from OG&E's wind farms. |
Common_Equity_Forward_Stock_Sp
Common Equity Forward Stock Split (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Equity [Abstract] | ' | ' |
Common Stock, Shares Authorized | 450 | 225 |
Common_Equity_Automatic_Divide
Common Equity Automatic Dividend Reinvestment and Stock Purchase Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds From Issuance of Shares Under Dividend Reinvestment Plan And Stock Purchase Plan | $14.20 | $14.30 | $14.80 |
Automatic Dividend Reinvestment and Stock Purchase Plan [Member] | ' | ' | ' |
Stock Issued During Period, Shares, Dividend Reinvestment Plan and Stock Purchase Plan | 399,485 | ' | ' |
Proceeds From Issuance of Shares Under Dividend Reinvestment Plan And Stock Purchase Plan | $13.80 | ' | ' |
Shares Held in Reserve Related to Dividend Reinvestment Plan and Stock Purchase Plan | 3,845,503 | ' | ' |
Common_Equity_Earnings_Per_Sha
Common Equity Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Net income attributable to OGE Energy | $57.60 | $215.20 | $91.70 | $23.10 | $38.50 | $185.50 | $93.90 | $37.10 | $387.60 | $355 | $342.90 | |||||
Basic Average Common Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 198.2 | 197.1 | 195.8 | |||||
Contingently Issuable Shares (Performance Units) | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 1 | 2.7 | |||||
Diluted Average Common Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 199.4 | 198.1 | 198.5 | |||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Basic earnings per average common share attributable to OGE Energy common shareholders | $0.29 | [1] | $1.08 | [1] | $0.46 | [1] | $0.12 | [1] | $0.19 | $0.94 | $0.48 | $0.19 | $1.96 | [1] | $1.80 | $1.75 |
Diluted earnings per average common share attributable to OGE Energy common shareholders | $0.29 | [1] | $1.08 | [1] | $0.46 | [1] | $0.12 | [1] | $0.19 | $0.94 | $0.47 | $0.19 | $1.94 | [1] | $1.79 | $1.73 |
[1] | Due to the impact of dilution on the earnings per share calculation, quarterly earnings per share amounts may not add to the total. |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt | $2,400.10 | $2,848.60 |
Percent of Principal Amount Subject to Optional Tender | 100.00% | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 100.2 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0.2 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 110.2 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 125.1 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 250.1 | ' |
Garfield Industrial Authority, January 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Date Due | 1-Jan-25 | ' |
Muskogee Industrial Authority, Janaury 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Date Due | 1-Jan-25 | ' |
Muskogee Industrial Authority, June 1, 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Date Due | 1-Jun-27 | ' |
Redeemable during the next 12 months | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt | 135.4 | ' |
Redeemable during the next 12 months | Garfield Industrial Authority, January 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Series Minimum | 0.18% | ' |
Series Maximum | 0.34% | ' |
Redeemable during the next 12 months | Muskogee Industrial Authority, Janaury 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Series Minimum | 0.10% | ' |
Series Maximum | 0.39% | ' |
Redeemable during the next 12 months | Muskogee Industrial Authority, June 1, 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Series Minimum | 0.10% | ' |
Series Maximum | 0.30% | ' |
OG&E [Member] | Redeemable during the next 12 months | Garfield Industrial Authority, January 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long term debt, gross | 47 | 47 |
OG&E [Member] | Redeemable during the next 12 months | Muskogee Industrial Authority, Janaury 1, 2025 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long term debt, gross | 32.4 | 32.4 |
OG&E [Member] | Redeemable during the next 12 months | Muskogee Industrial Authority, June 1, 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long term debt, gross | 56 | 56 |
Senior Notes [Member] | OG&E [Member] | Series due May 1, 2043 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long term debt, gross | $250 | $0 |
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | ' |
Date Due | 1-May-43 | ' |
ShortTerm_Debt_and_Credit_Faci2
Short-Term Debt and Credit Facilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | 1-May-13 | Dec. 31, 2013 | Dec. 31, 2013 | |||
In Millions, unless otherwise specified | OGE Energy [Member] | OGE Energy [Member] | Midstream Partnership [Member] | OG&E [Member] | Enogex LLC [Member] | |||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Short-term debt | $439.60 | $430.90 | ' | ' | ' | ' | ' | ' | ' | |||
Line of Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Aggregate Commitment | 1,150 | ' | ' | ' | 750 | [1] | ' | 1,400 | 400 | [2] | 400 | |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | 2.1 | [2],[3] | ' | ||
Amount Outstanding | 441.7 | [3] | ' | ' | ' | 439.6 | [1],[3] | ' | ' | ' | ' | |
Cash | 6.8 | 1.8 | 4.6 | 2.3 | ' | ' | ' | ' | ' | |||
Total | 1,156.80 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Weighted Average Interest Rate | 0.30% | ' | ' | ' | 0.30% | [1],[4] | 0.43% | ' | 0.53% | [2],[4] | ' | |
Maturity | ' | ' | ' | ' | 13-Dec-17 | [1],[5] | ' | ' | 13-Dec-17 | [2],[5] | ' | |
Period For Which Regulatory Approval Has Been Given to Acquire Short Term Debt | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | |||
Short Term Borrowing Capacity That Has Regulatory Approval | ' | ' | ' | ' | ' | ' | ' | $800 | ' | |||
[1] | This bank facility is available to back up OGE Energy's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
[2] | This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. | |||||||||||
[3] | Includes direct borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit at DecemberB 31, 2013. | |||||||||||
[4] | Represents the weighted-average interest rate for the outstanding borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit. | |||||||||||
[5] | In December 2011, the Company and OG&E entered into unsecured five-year revolving credit agreements to total in the aggregate $1,150.0 million ($750.0 million for the Company and $400.0 million for OG&E). Each of the credit facilities contain an option, which may be exercised up to two times, to extend the term for an additional year, subject to consent of a specified percentage of the lenders. Effective July 29, 2013, the Company and OG&E utilized one of these one-year extensions, and received consent from all of the lenders, to extend the maturity of their credit agreements to December 13, 2017. |
Retirement_Plans_and_Postretir2
Retirement Plans and Postretirement Benefit Plans (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Defined Contribution Plan, Cost Recognized | $14.20 | $13.40 | $12.30 | ||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 26 | ' | ' | ||
Expected Future Benefit Payments, Next Twelve Months | 93.2 | ' | ' | ||
Expected Future Benefit Payments, Year Two | 82 | ' | ' | ||
Expected Future Benefit Payments, Year Three | 76.7 | ' | ' | ||
Expected Future Benefit Payments, Year Four | 71.7 | ' | ' | ||
Expected Future Benefit Payments, Year Five | 64.7 | ' | ' | ||
Expected Future Benefit Payments, Five Fiscal Years Thereafter | 270.1 | ' | ' | ||
Fair Value of Plan Assets | 61.4 | 59.6 | ' | ||
Effect of One Percentage Point Increase on Service and Interest Cost Components | 0 | 0 | 0 | ||
Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 0.1 | 0.1 | 0.1 | ||
Effect of One Percentage Point Decrease on Service and Interest Cost Components | 0.1 | 0.1 | 0.1 | ||
Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | 0.6 | 0.9 | 0.6 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Beginning | 59.6 | ' | ' | ||
Employer contributions | 35 | 35 | ' | ||
Fair Value of Plan Assets, Ending | 61.4 | 59.6 | ' | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 8.3 | 6.3 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 8.3 | 6.3 | ' | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 53.1 | 53.3 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 53.1 | 53.3 | ' | ||
U.S. common stocks [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 236.8 | 232.2 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 236.8 | 232.2 | ' | ||
U.S. common stocks [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 236.8 | 232.2 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 236.8 | 232.2 | ' | ||
U.S. common stocks [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Foreign common stocks [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 39.3 | 39.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 39.3 | 39.9 | ' | ||
Foreign common stocks [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 39.3 | 39.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 39.3 | 39.9 | ' | ||
Foreign common stocks [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
U.S. treasury notes and bonds [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 159.8 | [1] | 138.6 | [1] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 159.8 | [1] | 138.6 | [1] | ' |
U.S. treasury notes and bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 159.8 | [1] | 138.6 | [1] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 159.8 | [1] | 138.6 | [1] | ' |
U.S. treasury notes and bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | [1] | 0 | [1] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | [1] | 0 | [1] | ' |
Mortgage-backed securities | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 50.3 | 55.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 50.3 | 55.8 | ' | ||
Mortgage-backed securities | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Mortgage-backed securities | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 50.3 | 55.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 50.3 | 55.8 | ' | ||
Corporate fixed income and other securities [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 110.6 | [2] | 98.4 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 110.6 | [2] | 98.4 | [2] | ' |
Corporate fixed income and other securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | [2] | 0 | [2] | ' |
Corporate fixed income and other securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 110.6 | [2] | 98.4 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 110.6 | [2] | 98.4 | [2] | ' |
Mortgage-backed securities [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 22.3 | [2] | 13.5 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 22.3 | [2] | 13.5 | [2] | ' |
Mortgage-backed securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | [2] | 0 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | [2] | 0 | [2] | ' |
Mortgage-backed securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 22.3 | [2] | 13.5 | [2] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 22.3 | [2] | 13.5 | [2] | ' |
Commingled fund [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 29.2 | [3] | 34.9 | [3] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 29.2 | [3] | 34.9 | [3] | ' |
Commingled fund [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | [3] | 0 | [3] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | [3] | 0 | [3] | ' |
Commingled fund [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 29.2 | [3] | 34.9 | [3] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 29.2 | [3] | 34.9 | [3] | ' |
Common/collective trust [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 26 | [4] | 25.6 | [4] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 26 | [4] | 25.6 | [4] | ' |
Common/collective trust [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | [4] | 0 | [4] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | [4] | 0 | [4] | ' |
Common/collective trust [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 26 | [4] | 25.6 | [4] | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 26 | [4] | 25.6 | [4] | ' |
Foreign government bonds [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 4 | 3.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 4 | 3.9 | ' | ||
Foreign government bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Foreign government bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 4 | 3.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 4 | 3.9 | ' | ||
U.S. municipal bonds [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 2 | 0.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 2 | 0.8 | ' | ||
U.S. municipal bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
U.S. municipal bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 2 | 0.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 2 | 0.8 | ' | ||
Interest-bearing cash [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0.1 | 0.2 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0.1 | 0.2 | ' | ||
Interest-bearing cash [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0.1 | 0.2 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0.1 | 0.2 | ' | ||
Interest-bearing cash [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Preferred stocks (foreign) [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | ' | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | ' | 0 | ' | ||
Preferred stocks (foreign) [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | ' | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | ' | 0 | ' | ||
Preferred stocks (foreign) [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | ' | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | ' | 0 | ' | ||
Receivable (foreign currency) [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 1.1 | 0.4 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 1.1 | 0.4 | ' | ||
Receivable (foreign currency) [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Receivable (foreign currency) [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 1.1 | 0.4 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 1.1 | 0.4 | ' | ||
Payable (foreign currency) [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | -1.1 | -0.4 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | -1.1 | -0.4 | ' | ||
Payable (foreign currency) [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Payable (foreign currency) [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | -1.1 | -0.4 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | -1.1 | -0.4 | ' | ||
Total Plan investments [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 680.4 | 643.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 680.4 | 643.8 | ' | ||
Total Plan investments [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 436 | 410.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 436 | 410.9 | ' | ||
Total Plan investments [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 244.4 | 232.9 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 244.4 | 232.9 | ' | ||
Receivable from broker for securities sold [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 11.5 | 0.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 11.5 | 0.8 | ' | ||
Interest and dividends receivable [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 3.2 | 2.8 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 3.2 | 2.8 | ' | ||
Payable to broker for securities purchased [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | -40.2 | -21.4 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | -40.2 | -21.4 | ' | ||
Total Plan assets [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 654.9 | 626 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 654.9 | 626 | ' | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 61.4 | 59.6 | ' | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ||
Benefit Obligation, Ending | -258.2 | -301 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Funded Status of Plan | -196.8 | -241.4 | ' | ||
Fair Value of Plan Assets, Ending | 61.4 | 59.6 | ' | ||
Pension Plan [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 22.4 | 0 | 0 | ||
Fair Value of Plan Assets | 654.9 | 626 | 589.8 | ||
Accumulated Benefit Obligation | 623.4 | 705.2 | ' | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ||
Benefit Obligation, Beginning | -747.1 | -697.7 | ' | ||
Service cost | -19 | -17.9 | 17.6 | ||
Actual return on plans' assets | -26.7 | -30.1 | -33.3 | ||
Plan amendments | 0 | 0 | ' | ||
Plan settlements | 67.5 | 0 | ' | ||
Participants' contributions | 0 | 0 | ' | ||
Medicare subsidies received | 0 | 0 | ' | ||
Actuarial gains (losses) | 53 | -61.4 | ' | ||
Benefits paid | -14.2 | -60 | ' | ||
Benefit Obligation, Ending | -658.1 | -747.1 | -697.7 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Beginning | 626 | 589.8 | ' | ||
Actual return on plans' assets | 75.6 | 61.2 | ' | ||
Employer contributions | 35 | 35 | ' | ||
Plan settlements | -67.5 | 0 | ' | ||
Participants' contributions | 0 | 0 | ' | ||
Medicare subsidies received | 0 | 0 | ' | ||
Benefits paid | 14.2 | 60 | ' | ||
Funded Status of Plan | -3.2 | -121.1 | ' | ||
Fair Value of Plan Assets, Ending | 654.9 | 626 | 589.8 | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Service cost | 19 | 17.9 | -17.6 | ||
Interest cost | 26.7 | 30.1 | 33.3 | ||
Expected return on plan assets | -48.4 | -46 | 45.5 | ||
Amortization of transition obligations | 0 | 0 | 0 | ||
Amortization of net loss | 26.5 | 23.8 | 19.2 | ||
Amortization of unrecognized prior service cost | 1.8 | 2.2 | 2.4 | ||
Settlement | 22.4 | 0 | 0 | ||
Net periodic benefit cost | 48 | 28 | 27 | ||
Less: Amount paid by unconsolidated affiliates | 5.9 | 0 | 0 | ||
Net Periodic Benefit Cost, Net of Unconsolidated Affiliates | 42.1 | 28 | 27 | ||
Capitalized Portion of Net Periodic Benefit Cost | 5.7 | 6.5 | 6.1 | ||
Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.60% | 3.70% | 4.50% | ||
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 8.00% | 8.00% | 8.00% | ||
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 4.20% | 4.20% | 4.40% | ||
Pension Plan [Member] | OKLAHOMA | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 17 | ' | ' | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Settlement | 17 | ' | ' | ||
Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | ' | ||
Restoration of Retirement Income Plan [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | 0.9 | 0 | ||
Fair Value of Plan Assets | 0 | 0 | 0 | ||
Accumulated Benefit Obligation | 12.9 | 12.7 | ' | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ||
Benefit Obligation, Beginning | -14.5 | -13.3 | ' | ||
Service cost | -1.2 | -1 | 1 | ||
Actual return on plans' assets | -0.5 | -0.6 | -0.6 | ||
Plan amendments | 0 | 0 | ' | ||
Plan settlements | 0 | 0 | ' | ||
Participants' contributions | 0 | 0 | ' | ||
Medicare subsidies received | 0 | 0 | ' | ||
Actuarial gains (losses) | 2 | -1.8 | ' | ||
Benefits paid | -0.2 | -2.2 | ' | ||
Benefit Obligation, Ending | -14 | -14.5 | -13.3 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Beginning | 0 | 0 | ' | ||
Actual return on plans' assets | 0 | 0 | ' | ||
Employer contributions | 0.2 | 2.2 | ' | ||
Plan settlements | 0 | 0 | ' | ||
Participants' contributions | 0 | 0 | ' | ||
Medicare subsidies received | 0 | 0 | ' | ||
Benefits paid | 0.2 | 2.2 | ' | ||
Funded Status of Plan | -14 | -14.5 | ' | ||
Fair Value of Plan Assets, Ending | 0 | 0 | 0 | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Service cost | 1.2 | 1 | -1 | ||
Interest cost | 0.5 | 0.6 | 0.6 | ||
Expected return on plan assets | 0 | 0 | 0 | ||
Amortization of transition obligations | 0 | 0 | 0 | ||
Amortization of net loss | 0.4 | 0.4 | 0.4 | ||
Amortization of unrecognized prior service cost | 0.3 | 0.7 | 0.7 | ||
Settlement | 0 | 0.9 | 0 | ||
Net periodic benefit cost | 2.4 | 3.6 | 2.7 | ||
Less: Amount paid by unconsolidated affiliates | 0.1 | 0 | 0 | ||
Net Periodic Benefit Cost, Net of Unconsolidated Affiliates | 2.3 | 3.6 | 2.7 | ||
Pension Plan [Member] | ' | ' | ' | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Net periodic benefit cost | 60 | 51.4 | 45.1 | ||
Pension Plan [Member] | OKLAHOMA | ' | ' | ' | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Additional Pension Expense to Meet State Requirements | 5.8 | 8.3 | 10.8 | ||
Postretirement Benefit Plan [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | 0 | 0 | ||
Fair Value of Plan Assets | 61.4 | 59.6 | 61 | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' | ||
Benefit Obligation, Beginning | -301 | -280.6 | ' | ||
Service cost | -4.3 | -4.1 | 3.5 | ||
Actual return on plans' assets | -10.3 | -11.9 | -12.5 | ||
Plan amendments | 0 | 0 | ' | ||
Plan settlements | 0 | 0 | ' | ||
Participants' contributions | -3.4 | -3.5 | ' | ||
Medicare subsidies received | 0 | -0.5 | ' | ||
Actuarial gains (losses) | 46.7 | -12.9 | ' | ||
Benefits paid | -14.1 | -12.5 | ' | ||
Benefit Obligation, Ending | -258.2 | -301 | -280.6 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Beginning | 59.6 | 61 | ' | ||
Actual return on plans' assets | 3.7 | 4.5 | ' | ||
Employer contributions | 8.8 | 2.6 | ' | ||
Plan settlements | 0 | 0 | ' | ||
Participants' contributions | 3.4 | 3.5 | ' | ||
Medicare subsidies received | 0 | 0.5 | ' | ||
Benefits paid | 14.1 | 12.5 | ' | ||
Funded Status of Plan | -196.8 | -241.4 | ' | ||
Fair Value of Plan Assets, Ending | 61.4 | 59.6 | 61 | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Service cost | 4.3 | 4.1 | -3.5 | ||
Interest cost | 10.3 | 11.9 | 12.5 | ||
Expected return on plan assets | -2.5 | -3 | 5.1 | ||
Amortization of transition obligations | 0 | 2.7 | 2.7 | ||
Amortization of net loss | 21.5 | 20.6 | 18.3 | ||
Amortization of unrecognized prior service cost | -16.5 | -16.5 | -16.5 | ||
Settlement | 0 | 0 | 0 | ||
Net periodic benefit cost | 17.1 | 19.8 | 15.4 | ||
Less: Amount paid by unconsolidated affiliates | 1.5 | 0 | 0 | ||
Net Periodic Benefit Cost, Net of Unconsolidated Affiliates | 15.6 | 19.8 | 15.4 | ||
Capitalized Portion of Net Periodic Benefit Cost | 3.5 | 5.5 | 3.8 | ||
Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.60% | 3.60% | 4.50% | ||
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 4.00% | 4.00% | 6.50% | ||
Health Care Cost Trend Rate Assumed for Next Fiscal Year | 8.35% | 8.55% | 8.75% | ||
Ultimate Health Care Cost Trend Rate | 4.48% | 4.48% | 4.48% | ||
Year that Rate Reaches Ultimate Trend Rate | '2028 | '2028 | '2028 | ||
Postretirement Benefit Plan [Member] | OKLAHOMA | ' | ' | ' | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ||
Additional Postretirement Medical Expense to Meet State Requirements | 0.6 | 0.8 | 3.5 | ||
Postretirement Benefit Plan [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Fair Value of Plan Assets | 0 | 0 | ' | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ||
Fair Value of Plan Assets, Ending | $0 | $0 | ' | ||
Less Than 90% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 50.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 50.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
95% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 58.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 42.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
100% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 65.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 35.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
105% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 73.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 27.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
110% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 80.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 20.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
115% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 85.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 15.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
120% [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Fixed Income | 90.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds Equity | 10.00% | ' | ' | ||
Projected Benefit Obligation Funded Status Thresholds | 100.00% | ' | ' | ||
Domestic All-Cap/Large Cap Equity [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Target Plan Asset Allocations | 50.00% | ' | ' | ||
Target Plan Asset Allocations Range Minimum | 50.00% | ' | ' | ||
Target Plan Asset Allocations Range Maximum | 60.00% | ' | ' | ||
Domestic Mid-Cap Equity [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Target Plan Asset Allocations | 15.00% | ' | ' | ||
Target Plan Asset Allocations Range Minimum | 5.00% | ' | ' | ||
Target Plan Asset Allocations Range Maximum | 25.00% | ' | ' | ||
Domestic Small-Cap Equity [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Target Plan Asset Allocations | 15.00% | ' | ' | ||
Target Plan Asset Allocations Range Minimum | 5.00% | ' | ' | ||
Target Plan Asset Allocations Range Maximum | 25.00% | ' | ' | ||
International Equity [Member] | ' | ' | ' | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ||
Target Plan Asset Allocations | 20.00% | ' | ' | ||
Target Plan Asset Allocations Range Minimum | 10.00% | ' | ' | ||
Target Plan Asset Allocations Range Maximum | 30.00% | ' | ' | ||
[1] | This category represents U.S. treasury notes and bonds with a Moody's Investors Services rating of Aaa and Government Agency Bonds with a Moody's Investors Services rating of A1 or higher. | ||||
[2] | This category primarily represents U.S. corporate bonds with an investment grade rating at or above Baa3 or BBB- by Moody's Investors Services, Standard & Poor's Ratings Services or Fitch Ratings. | ||||
[3] | This category represents units of participation in a commingled fund that primarily invested in stocks of international companies and emerging markets. | ||||
[4] | This category represents units of participation in an investment pool which primarily invests in foreign or domestic bonds, debentures, mortgages, equipment or other trust certificates, notes, obligations issued or guaranteed by the U.S. Government or its agencies, bank certificates of deposit, bankers' acceptances and repurchase agreements, high grade commercial paper and other instruments with money market characteristics with a fixed or variable interest rate. There are no restrictions on redemptions in the common/collective trust. |
Retirement_Plans_and_Postretir3
Retirement Plans and Postretirement Benefit Plans Postretirement Benefit Plans (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Level 3 Asset Value, Beginning of Period | $53.30 | ' | ||
Unrealized Gains | -0.5 | ' | ||
Interest Income | 1.1 | ' | ||
Dividend Income | 0.6 | ' | ||
Realized Gains | 0.4 | ' | ||
Administrative Expenses and Charges | -0.1 | ' | ||
Claims Paid | -1.7 | ' | ||
Level 3 Asset Value, End of Period | 53.1 | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 61.4 | 59.6 | ||
Postretirement Plan, Expected Future Benefit Payments, Next Twelve Months | 15.5 | ' | ||
Postretirement Plan, Expected Future Benefit Payments, Year Two | 16.1 | ' | ||
Postretirement Plan, Expected Future Benefit Payments, Year Three | 16.7 | ' | ||
Postretirement Plan, Expected Future Benefit Payments in Year Four | 17.2 | ' | ||
Postretirement Plan, Expected Future Benefit Payments, Year Five | 17.7 | ' | ||
Postretirement Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 90.7 | ' | ||
Postemployment Benefits Liability | 1.6 | 2.6 | ||
Group Retiree Medical Insurance Contract [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 53.1 | [1] | 53.3 | [1] |
U.S. Equity Mutual Funds Investment [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 7.9 | 6 | ||
Money Market Funds [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0.4 | 0.3 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 8.3 | 6.3 | ||
Fair Value, Inputs, Level 1 [Member] | Group Retiree Medical Insurance Contract [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | U.S. Equity Mutual Funds Investment [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 7.9 | 6 | ||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0.4 | 0.3 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 53.1 | 53.3 | ||
Fair Value, Inputs, Level 3 [Member] | Group Retiree Medical Insurance Contract [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 53.1 | [1] | 53.3 | [1] |
Fair Value, Inputs, Level 3 [Member] | U.S. Equity Mutual Funds Investment [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Defined Benefit Plan, Fair Value of Plan Assets | $0 | $0 | ||
[1] | This category represents a group retiree medical insurance contract which invests in a pool of common stocks, bonds and money market accounts, of which a significant portion is comprised of mortgage-backed securities. |
Report_of_Business_Segments_De
Report of Business Segments (Details) (USD $) | 3 Months Ended | 8 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $508.90 | $723.20 | $734.20 | $901.40 | $862.10 | $1,113.40 | $855 | $840.70 | ' | $2,867.70 | $3,671.20 | $3,915.90 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,428.90 | 1,918.70 | 2,277.90 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 489.2 | 601.5 | 581.2 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 297.3 | 371 | 307.1 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0.4 | 6.3 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -7.5 | -3 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.8 | 110.2 | 99.7 |
Operating income (loss) | 73.3 | 260.9 | 143.9 | 75.4 | 97.3 | 304 | 177.3 | 98.3 | ' | 553.5 | 676.9 | 646.7 |
Equity in earnings of unconsolidated affiliates (Note 1) | ' | ' | ' | ' | ' | ' | ' | ' | 101.9 | 101.9 | 0 | 0 |
Investment in unconsolidated affiliates (at historical cost) | 1,298.80 | ' | ' | ' | 0 | ' | ' | ' | 1,298.80 | 1,298.80 | 0 | ' |
Total assets | 9,134.70 | ' | ' | ' | 9,922.20 | ' | ' | ' | 9,134.70 | 9,134.70 | 9,922.20 | ' |
Electric Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,262.20 | 2,141.20 | 2,211.50 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 965.9 | 879.1 | 1,013.50 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 438.8 | 446.3 | 436 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 248.4 | 248.7 | 216.1 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83.8 | 77.7 | 73.6 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525.3 | 489.4 | 472.3 |
Equity in earnings of unconsolidated affiliates (Note 1) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Investment in unconsolidated affiliates (at historical cost) | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Total assets | 7,694.90 | ' | ' | ' | 7,222.40 | ' | ' | ' | 7,694.90 | 7,694.90 | 7,222.40 | 6,620.90 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 797.6 | 704.4 | 844.5 |
Natural Gas Midstream Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 630.4 | 1,608.60 | 1,787.10 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 489 | 1,120.10 | 1,346.60 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.9 | 172.9 | 162.5 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36.8 | 108.8 | 77.6 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 6.3 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -3 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.5 | 28.3 | 22 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.2 | 185.6 | 175.1 |
Equity in earnings of unconsolidated affiliates (Note 1) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.9 | ' | ' |
Investment in unconsolidated affiliates (at historical cost) | 1,298.80 | ' | ' | ' | ' | ' | ' | ' | 1,298.80 | 1,298.80 | ' | ' |
Total assets | 1,348.60 | ' | ' | ' | 2,681.30 | ' | ' | ' | 1,348.60 | 1,348.60 | 2,681.30 | 2,289 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 181.5 | 506.5 | 612.5 |
Other Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10.5 | -17.7 | -17.3 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.1 | 13.5 | 13.4 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | 4.2 | 4.1 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.1 | 0 | -0.2 |
Equity in earnings of unconsolidated affiliates (Note 1) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Investment in unconsolidated affiliates (at historical cost) | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Total assets | 216.2 | ' | ' | ' | 242.6 | ' | ' | ' | 216.2 | 216.2 | 242.6 | 155 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.5 | 18.3 | 13.8 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | -24.9 | -78.6 | -82.7 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26 | -80.5 | -82.2 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | 1.9 | -0.5 |
Equity in earnings of unconsolidated affiliates (Note 1) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Investment in unconsolidated affiliates (at historical cost) | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Total assets | -125 | ' | ' | ' | -224.1 | ' | ' | ' | -125 | -125 | -224.1 | -158.9 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,867.70 | 3,671.20 | 3,915.90 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,428.90 | 1,918.70 | 2,277.90 |
Other operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 489.2 | 601.5 | 581.2 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 297.3 | 371 | 307.1 |
Impairment of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 6.3 |
Gain on insurance proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -3 |
Taxes other than income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.8 | 110.2 | 99.7 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 553.5 | 676.9 | 646.7 |
Investment in unconsolidated affiliates (at historical cost) | 1,298.80 | ' | ' | ' | ' | ' | ' | ' | 1,298.80 | 1,298.80 | ' | ' |
Total assets | 9,134.70 | ' | ' | ' | 9,922.20 | ' | ' | ' | 9,134.70 | 9,134.70 | 9,922.20 | 8,906 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | $990.60 | $1,229.20 | $1,470.80 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loss Contingencies [Line Items] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $6,700,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 6,000,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 30,200,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 3,200,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 3,100,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 48,800,000 | ' | ' |
Operating Leases, Future Minimum Payments Due | 98,000,000 | ' | ' |
Operating Leases, Rent Expense, Net | 8,800,000 | 14,200,000 | 10,400,000 |
Long-term Purchase Commitment, Amount | 2,824,600,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 726,500,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 657,100,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 588,400,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 609,600,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 243,000,000 | ' | ' |
Utilities Operating Expense, Purchased Power under Long-term Contracts | 62,000,000 | 49,500,000 | 36,700,000 |
Commitments and Contingencies | ' | ' | ' |
Estimated Environmental Capital Costs | 1,000,000,000 | ' | ' |
Potential Penalty Under the Federal Clean Air Act | 37,500 | ' | ' |
OG&E Railcar Lease Agreement [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss Contingency, Range of Possible Loss, Maximum | 22,800,000 | ' | ' |
OG&E Railcar Lease Agreement [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 3,800,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 3,100,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 27,300,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 0 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 0 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 0 | ' | ' |
Operating Leases, Future Minimum Payments Due | 34,200,000 | ' | ' |
OG&E Wind Farm Land Lease Agreements [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,100,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,100,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 2,100,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 2,400,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 2,400,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 48,800,000 | ' | ' |
Operating Leases, Future Minimum Payments Due | 59,900,000 | ' | ' |
OGE Energy Building Lease [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 800,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 800,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 800,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 800,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 700,000 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 0 | ' | ' |
Operating Leases, Future Minimum Payments Due | 3,900,000 | ' | ' |
OGE Holdings [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due | 0 | ' | ' |
OG&E cogeneration capacity and fixed operation and maintenance payments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 406,300,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 85,100,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 82,700,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 81,900,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 79,600,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 77,000,000 | ' | ' |
OG&E expected cogeneration energy payments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 366,600,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 61,100,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 60,900,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 75,700,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 81,500,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 87,400,000 | ' | ' |
OG&E minimum fuel purchase commitments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 1,657,200,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 451,800,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 451,800,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 368,500,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 385,100,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 | ' | ' |
Long-term Purchase Commitment, Amount | 657,300,000 | 585,600,000 | 647,600,000 |
Percentage of OG&E's Projected 2014 Requirements | 31.50% | ' | ' |
OG&E expected wind purchase commitments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 297,000,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 58,000,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 58,900,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 59,800,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 60,800,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 59,500,000 | ' | ' |
OG&E long-term service agreement commitments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 97,500,000 | ' | ' |
Purchase Obligation, Due in Next Twelve Months | 70,500,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 2,800,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 2,500,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 2,600,000 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 19,100,000 | ' | ' |
Public Utility Regulatory Policy Act of 1978 [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Percentage of output purchased | 100.00% | ' | ' |
CPV Keenan [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Utilities Operating Expense, Purchased Power under Long-term Contracts | 30,900,000 | 25,100,000 | 24,500,000 |
Edison Mission Energy [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Utilities Operating Expense, Purchased Power under Long-term Contracts | 20,600,000 | 20,200,000 | 8,500,000 |
FPL Energy [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Utilities Operating Expense, Purchased Power under Long-term Contracts | 3,300,000 | 3,400,000 | 3,700,000 |
NextEra Energy [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Utilities Operating Expense, Purchased Power under Long-term Contracts | 7,200,000 | 800,000 | 0 |
OG&E total cogeneration payments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 134,800,000 | 135,100,000 | 140,700,000 |
OG&E capacity payments [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Long-term Purchase Commitment, Amount | 74,400,000 | 77,100,000 | 78,000,000 |
OG&E long-term service agreement commitments [Member] | McClain Plant [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Factored-Fired Hours | 128,000 | ' | ' |
Factored-Fired Starts | 3,600 | ' | ' |
OG&E long-term service agreement commitments [Member] | Redbud Plant [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Factored-Fired Hours | 144,000 | ' | ' |
Factored-Fired Starts | 4,500 | ' | ' |
Additional Factored-Fired Hours | 24,000 | ' | ' |
Enogex [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Commitments and Contingencies | 0 | ' | ' |
OG&E Wind Energy Purchase Power Lawsuit [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss Contingency Accrual | $4,300,000 | ' | ' |
Rate_Matters_and_Regulation_De
Rate Matters and Regulation (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Section 206 Complaint [Member] | ' |
Reduction of Revenue | $1 |
Oklahoma Corporation Commission [Member] | ' |
OG&E's Jurisdictional Revenues | 85.00% |
Arkansas Public Service Commission [Member] | ' |
OG&E's Jurisdictional Revenues | 8.00% |
Federal Energy Regulatory Commission [Member] | ' |
OG&E's Jurisdictional Revenues | 7.00% |
Quarterly_Financial_Data_Detai
Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Operating revenues | $508.90 | $723.20 | $734.20 | $901.40 | $862.10 | $1,113.40 | $855 | $840.70 | $2,867.70 | $3,671.20 | $3,915.90 | |||||
Operating income | 73.3 | 260.9 | 143.9 | 75.4 | 97.3 | 304 | 177.3 | 98.3 | 553.5 | 676.9 | 646.7 | |||||
Net income | 57.6 | 215.2 | 93 | 28 | 43.5 | 192.4 | 101.6 | 47.5 | 393.8 | 385 | 363.6 | |||||
Net income attributable to OGE Energy | $57.60 | $215.20 | $91.70 | $23.10 | $38.50 | $185.50 | $93.90 | $37.10 | $387.60 | $355 | $342.90 | |||||
Basic earnings per average common share attributable to OGE Energy common shareholders | $0.29 | [1] | $1.08 | [1] | $0.46 | [1] | $0.12 | [1] | $0.19 | $0.94 | $0.48 | $0.19 | $1.96 | [1] | $1.80 | $1.75 |
Diluted earnings per average common share attributable to OGE Energy common shareholders | $0.29 | [1] | $1.08 | [1] | $0.46 | [1] | $0.12 | [1] | $0.19 | $0.94 | $0.47 | $0.19 | $1.94 | [1] | $1.79 | $1.73 |
[1] | Due to the impact of dilution on the earnings per share calculation, quarterly earnings per share amounts may not add to the total. |
Schedule_II_Details
Schedule II (Details) (USD $) | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance | $1.90 | $2.60 | $3.80 | $1.90 | |||
Valuation Allowances and Reserves, Charged to Cost and Expense | 2.5 | 3.3 | 5.8 | ' | |||
Valuation Allowances and Reserves, Deductions | $3.20 | [1] | $4.50 | [1] | $3.90 | [1] | ' |
[1] | Uncollectible accounts receivable written off, net of recoveries. |