EX-99.2 3 exhibit99_2.htm EXHIBIT 99.2 - AMEREN CORP. STATEMENT OF INCOME, CASH FLOWS AND BALANCE SHEET exhibit99_2.htm
 
Exhibit 99.2
 
AMEREN CORPORATION (AEE)
 
CONSOLIDATED STATEMENT OF INCOME
 
(Unaudited, in millions, except per share amounts)
 
                       
                       
                       
 
Three Months Ended
   
Year Ended
 
 
December 31,
   
December 31,
 
 
2008
   
2007
   
2008
   
2007
 
                       
Operating Revenues:
                     
Electric
$ 1,423     $ 1,428     $ 6,367     $ 6,283  
Gas
  485       384       1,472       1,279  
Total operating revenues
  1,908       1,812       7,839       7,562  
                               
Operating Expenses:
                             
Fuel
  372       303       1,275       1,167  
Purchased power
  246       281       1,210       1,387  
Gas purchased for resale
  360       278       1,057       900  
Other operations and maintenance
  497       439       1,857       1,687  
Depreciation and amortization
  171       167       685       681  
Taxes other than income taxes
  93       86       393       381  
Total operating expenses
  1,739       1,554       6,477       6,203  
Operating Income
  169       258       1,362       1,359  
                               
Other Income and Expenses:
                             
Miscellaneous income
  19       22       80       75  
Miscellaneous expense
  (8 )     (4 )     (31 )     (25 )
Total other income
  11       18       49       50  
                               
Interest Charges
  109       107       440       423  
                               
Income Before Income Taxes, Minority Interest, and Preferred
                             
   Dividends of Subsidiaries
  71       169       971       986  
                               
Income Taxes
  8       51       327       330  
                               
Income Before Minority Interest and Preferred Dividends of Subsidiaries
  63       118       644       656  
                               
Minority Interest and Preferred Dividends of Subsidiaries
  6       10       39       38  
                               
Net Income
$ 57     $ 108     $ 605     $ 618  
                               
Earnings per Common Share - Basic and Diluted
$ 0.27     $ 0.52     $ 2.88     $ 2.98  
                               
                               
Average Common Shares Outstanding
  211.5       208.1       210.1       207.4  
                               

 
 

 

AMEREN CORPORATION (AEE)
 
CONSOLIDATED STATEMENT OF CASH FLOWS
 
(Unaudited, in millions)
 
 
Year Ended
 
 
December 31,
 
 
2008
   
2007
 
Cash Flows From Operating Activities:
         
Net income
$ 605     $ 618  
Adjustments to reconcile net income to net cash provided by operating activities:
             
Gain on sales of emission allowances
  (8 )     (8 )
Gain on sale of noncore properties
  -       (3 )
Loss on asset impairments
  14       -  
Net mark-to-market gain on derivatives
  (3 )     (3 )
Depreciation and amortization
  705       735  
Amortization of nuclear fuel
  37       37  
Amortization of debt issuance costs and premium/discounts
  20       19  
Deferred income taxes and investment tax credits, net
  167       (28 )
Minority interest
  29       27  
Other
  (9 )     12  
Changes in assets and liabilities:
             
Receivables
  25       (194 )
Materials and supplies
  (100 )     (88 )
Accounts and wages payable
  57       -  
Taxes accrued, net
  (30 )     21  
Assets, other
  63       49  
Liabilities, other
  183       (36 )
Pension and other postretirement benefit obligations
  (4 )     27  
Counterparty collateral, net
  (69 )     (27 )
Taum Sauk costs, net of insurance recoveries
  (149 )     (56 )
Net cash provided by operating activities
  1,533       1,102  
               
Cash Flows From Investing Activities:
             
Capital expenditures
  (1,896 )     (1,381 )
Proceeds from sales of noncore properties, net
  -       13  
Nuclear fuel expenditures
  (173 )     (68 )
Purchases of securities - nuclear decommissioning trust fund
  (520 )     (142 )
Sales of securities - nuclear decommissioning trust fund
  497       128  
Purchases of emission allowances
  (12 )     (24 )
Sales of emission allowances
  4       5  
Other
  3       1  
Net cash used in investing activities
  (2,097 )     (1,468 )
               
Cash Flows From Financing Activities:
             
Dividends on common stock
  (534 )     (527 )
Capital issuance costs
  (12 )     (4 )
Short-term debt, net
  (298 )     860  
Dividends paid to minority interest holder
  (30 )     (21 )
Redemptions, repurchases, and maturities:
             
Long-term debt
  (842 )     (488 )
Preferred stock
  (16 )     (1 )
Issuances:
             
Common stock
  154       91  
Long-term debt
  1,879       674  
Net cash provided by financing activities
  301       584  
               
Net change in cash and cash equivalents
  (263 )     218  
Cash and cash equivalents at beginning of year
  355       137  
               
Cash and cash equivalents at end of year
$ 92     $ 355  
               

 


 
AMEREN CORPORATION (AEE)
 
CONSOLIDATED BALANCE SHEET
 
(Unaudited, in millions)
 
           
 
December 31,
   
December 31,
 
 
2008
   
2007
 
           
ASSETS
         
Current Assets:
         
Cash and cash equivalents
$ 92     $ 355  
Accounts receivable - trade, net
  502       570  
Unbilled revenue
  427       359  
Miscellaneous accounts and notes receivable
  292       262  
Materials and supplies
  842       735  
Mark-to-market derivative assets
  207       35  
Other current assets
  153       146  
Total current assets
  2,515       2,462  
Property and Plant, Net
  16,567       15,069  
Investments and Other Assets:
             
Nuclear decommissioning trust fund
  239       307  
Goodwill
  831       831  
Intangible assets
  167       198  
Regulatory assets
  1,732       1,158  
Other assets
  606       703  
Total investments and other assets
  3,575       3,197  
               
TOTAL ASSETS
$ 22,657     $ 20,728  
 
             
LIABILITIES AND STOCKHOLDERS' EQUITY
             
Current Liabilities:
             
Current maturities of long-term debt
$ 380     $ 223  
Short-term debt
  1,174       1,472  
Accounts and wages payable
  813       687  
Taxes accrued
  54       84  
Mark-to-market derivative liabilities
  155       24  
Other current liabilities
  487       414  
Total current liabilities
  3,063       2,904  
Long-term Debt, Net
  6,554       5,689  
Preferred Stock of Subsidiary Subject to Mandatory Redemption
  -       16  
Deferred Credits and Other Liabilities:
             
Accumulated deferred income taxes, net
  2,131       2,046  
Accumulated deferred investment tax credits
  100       109  
Regulatory liabilities
  1,291       1,240  
Asset retirement obligations
  406       562  
Accrued pension and other postretirement benefits
  1,495       839  
Other deferred credits and liabilities
  438       354  
Total deferred credits and other liabilities
  5,861       5,150  
Preferred Stock of Subsidiaries Not Subject to Mandatory Redemption
  195       195  
Minority Interest in Consolidated Subsidiaries
  21       22  
Stockholders' Equity:
             
Common stock
  2       2  
Other paid-in capital, principally premium on common stock
  4,780       4,604  
Retained earnings
  2,181       2,110  
Accumulated other comprehensive income
  -       36  
Total stockholders' equity
  6,963       6,752  
               
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 22,657     $ 20,728