ex99_2.htm

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF INCOME
(Unaudited, in millions, except per share amounts)



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2008			2007			2008			2007

Operating Revenues:
Electric	$	1,928		$	1,872		$	4,944		$	4,855
Gas		132			125			987			895
Total operating revenues		2,060			1,997			5,931			5,750
Operating Expenses:
Fuel		461			338			963			864
Coal contract settlement		-			-			(60	)		-
Purchased power		371			419			964			1,106
Gas purchased for resale		73			68			697			622
Other operations and maintenance		449			417			1,340			1,230
Depreciation and amortization		180			176			534			534
Taxes other than income taxes		98			97			300			295
Total operating expenses		1,632			1,515			4,738			4,651
Operating Income		428			482			1,193			1,099
Other Income and Expenses:
Miscellaneous income		23			20			61			53
Miscellaneous expense		(10	)		(9	)		(23	)		(19	)
Total other income		13			11			38			34
Interest Charges		113			110			331			316
Income Before Income Taxes, Minority Interest and Preferred
Dividends of Subsidiaries		328			383			900			817
Income Taxes		113			130			319			279
Income Before Minority Interest and Preferred Dividends of Subsidiaries		215			253			581			538
Minority Interest and Preferred Dividends of Subsidiaries		11			9			33			28
Net Income	$	204		$	244		$	548		$	510

Earnings per Common Share - Basic and Diluted	$	0.97		$	1.18		$	2.61		$	2.46

Average Common Shares Outstanding		210.3			207.6			209.5			207.1

AMEREN CORPORATION (AEE)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)
	Nine Months Ended
	September 30,
	2008			2007
Cash Flows From Operating Activities:
Net income	$	548		$	510
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of emission allowances		(2	)		(7	)
Net mark-to-market gain on derivatives		(42	)		(7	)
Depreciation and amortization		549			557
Amortization of nuclear fuel		31			26
Amortization of debt issuance costs and premium/discounts		14			14
Deferred income taxes and investment tax credits, net		130			18
Minority interest		25			20
Other		(2	)		10
Changes in assets and liabilities:
Receivables		144			(220	)
Materials and supplies		(216	)		(110	)
Accounts and wages payable		(100	)		(113	)
Taxes accrued, net		44			75
Assets, other		46			58
Liabilities, other		142			151
Pension and other postretirement benefit obligations		2			67
Counterparty collateral asset		(2	)		(71	)
Counterparty collateral liability		2			-
Taum Sauk insurance receivable, net		(68	)		(58	)
Net cash provided by operating activities		1,245			920

Cash Flows From Investing Activities:
Capital expenditures		(1,316	)		(1,035	)
Nuclear fuel expenditures		(161	)		(39	)
Purchases of securities - nuclear decommissioning trust fund		(386	)		(110	)
Sales of securities - nuclear decommissioning trust fund		360			98
Purchases of emission allowances		(2	)		(12	)
Sales of emission allowances		2			5
Other		2			-
Net cash used in investing activities		(1,501	)		(1,093	)

Cash Flows From Financing Activities:
Dividends on common stock		(399	)		(395	)
Capital issuance costs		(9	)		(3	)
Short-term debt, net		(65	)		590
Dividends paid to minority interest holder		(23	)		(16	)
Redemptions, repurchases, and maturities:
Long-term debt		(823	)		(465	)
Preferred stock		(16	)		(1	)
Issuances:
Common stock		107			71
Long-term debt		1,335			425
Net cash provided by financing activities		107			206

Net change in cash and cash equivalents		(149	)		33
Cash and cash equivalents at beginning of year		355			137

Cash and cash equivalents at end of period	$	206		$	170

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)

	September 30,		December 31,
	2008		2007

ASSETS
Current Assets:
Cash and cash equivalents	$	206	$	355
Accounts receivable - trade, net		506		570
Unbilled revenue		262		359
Miscellaneous accounts and notes receivable		291		280
Materials and supplies		956		735
Other current assets		326		181
Total current assets		2,547		2,480
Property and Plant, Net		15,977		15,069
Investments and Other Assets:
Nuclear decommissioning trust fund		269		307
Goodwill		831		831
Intangible assets		167		198
Regulatory assets		1,122		1,158
Other assets		566		685
Total investments and other assets		2,955		3,179

TOTAL ASSETS	$	21,479	$	20,728

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current maturities of long-term debt	$	269	$	221
Short-term debt		1,407		1,472
Accounts and wages payable		509		687
Taxes accrued		128		84
Other current liabilities		605		438
Total current liabilities		2,918		2,902
Long-term Debt, Net		6,143		5,691
Preferred Stock of Subsidiary Subject to Mandatory Redemption		-		16
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes, net		2,072		2,046
Accumulated deferred investment tax credits		102		109
Regulatory liabilities		1,291		1,240
Asset retirement obligations		583		562
Accrued pension and other postretirement benefits		741		839
Other deferred credits and liabilities		367		354
Total deferred credits and other liabilities		5,156		5,150
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption		195		195
Minority Interest in Consolidated Subsidiaries		24		22
Stockholders' Equity:
Common stock		2		2
Other paid-in capital, principally premium on common stock		4,731		4,604
Retained earnings		2,259		2,110
Accumulated other comprehensive income		51		36
Total stockholders' equity		7,043		6,752

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	21,479	$	20,728