Last10K.com

Oge Energy Corp. (OGE) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

SEC Filings

Oge Energy Corp.

CIK: 1021635 Ticker: OGE


Exhibit 99.01

OGE Energy Corp. reports higher earnings for 2012

OKLAHOMA CITY - OGE Energy Corp. (NYSE: OGE), parent company of Oklahoma Gas and Electric Company (OG&E) and OGE Enogex Holdings LLC (Enogex), today reported earnings of $3.58 per average diluted share in 2012, compared with earnings of $3.45 per average diluted share in 2011.

In 2012, OG&E, a regulated electric utility, reported net income of $280 million and contributed $2.83 per diluted share, compared with $263 million, or $2.65 per diluted share in 2011. Enogex, a midstream natural gas pipeline business, reported net income of $74 million, or $0.75 per diluted share in 2012, compared to net income of $82 million, or $0.83 per diluted share in 2011. The holding company posted breakeven results in 2012, compared with a loss of $0.03 per diluted share in the prior period.

"Execution of key multi-year initiatives was our focus for 2012," said Pete Delaney, OGE Energy chairman, president and CEO. "At the utility, we completed our smart meter deployment on time and under budget, and made appreciable progress in our transmission build out, which contributed to our strong utility earnings. At Enogex, we continue to develop our existing acreage dedications, which should provide gathering and processing volume growth for years to come."

Fourth Quarter Results
For the three months ended Dec. 31, 2012, OGE Energy reported earnings of $0.39 per diluted share, compared with $0.37 per diluted share in the fourth quarter of 2011. The increase was due to higher gross margins at OG&E primarily from increased transmission revenue, recovery of various utility investments and new customer growth in the fourth quarter compared to the same period last year partially offset by higher operating expenses and increased ownership in Enogex by OGE's equity partner.

Discussion of 2012 results

OGE Energy reported consolidated gross margin of $1.8 billion in 2012, compared with $1.6 billion in 2011. Operating income was $677 million in 2012, compared with $647 million in 2011. Net income was $355 million in 2012, compared with $343 million in 2011.

OG&E reported gross margin of $1.3 billion in 2012, compared with $1.2 billion in 2011. OG&E's higher net income, $280 million in 2012 compared with $263 million in 2011, was primarily attributed to recovery of various utility investments, transmission revenues associated with new projects, new customer growth and production tax credits related to wind farms, partially offset by higher operating and interest expenses.
 
Enogex reported gross margin of $489 million in 2012, compared to $441 million in 2011. Enogex's gross margin increased 11 percent from 2011, as a result of higher gathering, processing and condensate volumes. Enogex's higher gross margins were offset by increased operating and interest expenses associated with system expansion and increased ownership percentage in Enogex by OGE's equity partner. Enogex's net income attributable to OGE decreased in 2012 to $74 million compared with $82 million in 2011. OGE Energy's portion of EBITDA increased from $223 million in 2011 to $237 million in 2012.

2013 Outlook
OGE Energy consolidated earnings guidance for 2013 is $3.35 to $3.60 per averaged diluted share. The guidance assumes approximately 100 million average diluted shares outstanding and normal weather for the


The following information was filed by Oge Energy Corp. (OGE) on Wednesday, February 27, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Oge Energy Corp.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Oge Energy Corp..

Continue

Assess how Oge Energy Corp.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Oge Energy Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Schedule Ii (details)
Schedule Ii (notes)
Schedule Ii (tables)
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statements Of Capitalization
Consolidated Statements Of Capitalization (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income Parenthetical
Consolidated Statements Of Income
Accounting Pronouncements
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies Other Purchase Obligations And Commitments (details)
Common Equity
Common Equity (tables)
Common Equity Automatic Dividend Reinvestment And Stock Purchase Plan (details)
Common Equity Earnings Per Share (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities, Balance Sheet Presentation Related To Derivative Instruments (details)
Derivative Instruments And Hedging Activities, Income Statement Presentation Related To Derivative Instruments (details)
Derivative Instruments And Hedging Activities, Quantitative Disclosures Related To Derivative Instruments (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements Carrying And Fair Value Amounts (details)
Fair Value Measurements Unobservable Input Reconciliation (details)
Fair Value Measurements, Fair Value Hierarchy (details)
Gas Gathering And Processing Acquisitions And Divestitures
Gas Gathering And Processing Acquisitions And Divestitures (details)
Gas Gathering And Processing Acquisitions And Divestitures (tables)
Impairment Of Assets
Impairment Of Assets (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Noncontrolling Interests
Noncontrolling Interests (tables)
Noncontrolling Interests Change In Ownership Interest Table (details)
Noncontrolling Interests Contributions Table (details)
Noncontrolling Interests Distributions Made To Partners (details)
Quarterly Financial Data
Quarterly Financial Data (details)
Quarterly Financial Data (tables)
Rate Matters And Regulation
Rate Matters And Regulation (details)
Report Of Business Segments
Report Of Business Segments (details)
Report Of Business Segments (tables)
Retirement Plans And Postretirement Benefit Plans
Retirement Plans And Postretirement Benefit Plans (details)
Retirement Plans And Postretirement Benefit Plans (tables)
Retirement Plans And Postretirement Benefit Plans Postretirement Benefit Plans (details)
Short-term Debt And Credit Facilities
Short-term Debt And Credit Facilities (details)
Short-term Debt And Credit Facilities (tables)
Stock Based Compensation
Stock Based Compensation (details)
Stock Based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Accounting Records (details)
Summary Of Significant Accounting Policies Accumulated Other Comprehensive Income (loss) (details)
Summary Of Significant Accounting Policies Allowance For Funds Used During Construction (details)
Summary Of Significant Accounting Policies Allowance For Uncollectible Accounts Receivable (details)
Summary Of Significant Accounting Policies Asset Retirement Obligation (details)
Summary Of Significant Accounting Policies Depreciation And Amortization (details)
Summary Of Significant Accounting Policies Enviromental Costs (details)
Summary Of Significant Accounting Policies Equity Ownership (details)
Summary Of Significant Accounting Policies Fuel Inventories (details)
Summary Of Significant Accounting Policies Impairment Of Long-lived Assets (including Goodwill) (details)
Summary Of Significant Accounting Policies Intangible Assets (details)
Summary Of Significant Accounting Policies Property, Plant And Equipment (details)
Summary Of Significant Accounting Policies Regulated Operations (details)
Summary Of Significant Accounting Policies Revenue Recognition (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: OGE
CIK: 1021635
Form Type: 10-K Annual Report
Accession Number: 0001021635-13-000018
Submitted to the SEC: Wed Feb 27 2013 8:26:15 AM EST
Accepted by the SEC: Wed Feb 27 2013
Period: Monday, December 31, 2012
Industry: Electric Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/oge/0001021635-13-000018.htm